Addition u/s 41(1) - creditors treated as ceased/waived ...

Appeal Dismissed: Trade Creditors' Denial Leads to Ceased Liabilities u/s 41(1) of Income Tax Act.

May 14, 2022

Case Laws Income Tax AT

Addition u/s 41(1) - creditors treated as ceased/waived liability - recalling of appeal - the Assessing Officer issued summons to the alleged trade creditors and recorded their statements, wherein they have denied of any payment due to the assessee - The appeal recalled to the extent of examining the two decisions, is accordingly dismissed. - Additions confirmed - AT

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Addition u/s 41(1) - creditors treated as ceased/waived ...

Appeal Dismissed: Trade Creditors' Denial Leads to Ceased Liabilities u/s 41(1) of Income Tax Act.

May 14, 2022

Case Laws Income Tax AT

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