Addition u/s 41(1) - waiver of sales tax liability - the ...

Assessee must recognize waived sales tax liability benefit u/s 41(1) when waiver right accrues, not upon repayment.

March 5, 2014

Case Laws Income Tax HC

Addition u/s 41(1) - waiver of sales tax liability - the assessee following mercantile system of accounting must surrender the benefit when the right is accrued and cannot wait for the actual repayment- HC

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Addition u/s 41(1) - waiver of sales tax liability - the ...

Assessee must recognize waived sales tax liability benefit u/s 41(1) when waiver right accrues, not upon repayment.

March 5, 2014

Case Laws Income Tax HC

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