Addition u/s 41 - conversion of unsecured loan from the sister ...

Loan to Gift Conversion Not a Liability Remission u/s 41(1), No Tax Benefit Changes for Interest Deduction.

May 16, 2016

Case Laws Income Tax AT

Addition u/s 41 - conversion of unsecured loan from the sister as gift by book entry - in the earlier years, interest paid to sister was claimed as deduction - whether remission / cessation of liability u/s 41(1) - Held No - AT

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Addition u/s 41 - conversion of unsecured loan from the sister ...

Loan to Gift Conversion Not a Liability Remission u/s 41(1), No Tax Benefit Changes for Interest Deduction.

May 16, 2016

Case Laws Income Tax AT

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