Addition on account of cessation of liability u/s 41 - it is on ...

Assessing Officer Must Prove Cessation of Liability Benefits u/s 41; Creditor's Absence Insufficient for Decision.

June 10, 2015

Case Laws Income Tax AT

Addition on account of cessation of liability u/s 41 - it is on part of AO to prove that the assessee has obtained the benefits in respect of such trading liabilities by way of remission or cessation which he fails to do - in the absence of the creditor, it is not possible for the authority to come to a conclusion that the debt is barred and has become unenforceable - AT

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Addition on account of cessation of liability u/s 41 - it is on ...

Assessing Officer Must Prove Cessation of Liability Benefits u/s 41; Creditor's Absence Insufficient for Decision.

June 10, 2015

Case Laws Income Tax AT

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