Addition u/s 41(1) - AO alleged that liability is non-existent - ...

AO's Claim of Non-Existent Liability Fails to Trigger Section 41(1) Tax Due to Lack of Existing Trading Liability.

April 20, 2019

Case Laws Income Tax HC

Addition u/s 41(1) - AO alleged that liability is non-existent - section 41(1) can be invoked provided there is trading liability in existence - in absence of any liability, the question of taxing any income on the ground that there was remission or cessation such liability would not arise

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Addition u/s 41(1) - AO alleged that liability is non-existent - ...

AO's Claim of Non-Existent Liability Fails to Trigger Section 41(1) Tax Due to Lack of Existing Trading Liability.

April 20, 2019

Case Laws Income Tax HC

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