TMI BlogSection 41(1)(a) Income Tax Act: Debt Validity Maintained After Limitation Period Expiration, Affects Tax Treatment.Deemed income – Section-41(1)(a) -expiry of period of limitation did not extinguish the debt but only prevented the creditor from enforcing the debt - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
|