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Income Tax - Highlights / Catch Notes

Home Highlights July 2017 Year 2017 This

Addition u/s 41 - amount collected towards the scheme - ...


Court Rules on Addition u/s 41: Liability Ceased as Scheme Ended, Limitation Period Expired.

July 18, 2017

Case Laws     Income Tax     HC

Addition u/s 41 - amount collected towards the scheme - cessation of liability - By all accounts, the assessee has treated such amount as its own. The scheme itself terminated many years back. Limitation of claiming amount back has also seized. - HC

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