Addition under Section 41(1) - The loan transactions were on the ...

Loan Write-Off on Capital Account Excludes Section 41(1) Application; No Profit and Loss Impact.

February 18, 2016

Case Laws Income Tax HC

Addition under Section 41(1) - The loan transactions were on the capital account and the writing off the loan was also on capital account and did not find place in the Profit and Loss Account - Thus the cessation of the liability by itself would not lead to the attraction of Section 41(1) - HC

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Addition under Section 41(1) - The loan transactions were on the ...

Loan Write-Off on Capital Account Excludes Section 41(1) Application; No Profit and Loss Impact.

February 18, 2016

Case Laws Income Tax HC

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