Addition u/s 41(1)(a) - cessation of trading liability - the ...

Income Tax

January 14, 2019

Addition u/s 41(1)(a) - cessation of trading liability - the method of accounting, cash or mercantile, adopted by the assessee is also irrelevant as far as section 41(1) is concerned, so that as soon as the assessee is found to have benefited from the remission or cessation of a trading liability, allowed in an earlier year, the provision would get attracted.

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Addition u/s 41(1)(a) - cessation of trading liability - the ...

Income Tax

January 14, 2019

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