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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Addition u/s 41(1) - Unexplained sundry creditors and advance ...

Income Tax

March 4, 2023

Addition u/s 41(1) - Unexplained sundry creditors and advance from customers - No addition can be made under section 41(1) of the Act merely on the basis of doubting the genuineness of the creditor without establishing the actual cessation of liability. - AT

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