Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Additions u/s 41 - the assessee had stopped its business and ...

Case Laws     Income Tax

May 26, 2017

Additions u/s 41 - the assessee had stopped its business and liability is had been shown on account of interest payable for the last for many years which was not paid but claimed that expenses in the earlier years - Assesseee failed to prove the genuineness - additions confirmed - AT

View Source

 


 

You may also like:

  1. Addition u/s. 41(1) - cessation of liability - assessee had continuously avoided the payment of tax by showing the said interest liability as payable, whereas the...

  2. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

  3. Additions u/s 41(1) when the liability is no longer payable - CENVAT credit appears on the liability side and this amount was apparently payable to the parties from whom...

  4. Addition on account of cessation of liability of unsecured loan - assessee was not having trading liability u/s 41(1) of the Act - No additions - AT

  5. Addition under sec.41(1) on account of cessation of liability - assessee has no explanation to prove that the creditors in its books of account are genuine - additions...

  6. Addition u/s. 41(1) - Difference between the amount payable as per books of accounts and amount as per the confirmation received from the creditor - The High Court...

  7. Interest liability - Provisional assessment - interest is not payable if assessee pays the duty before finalisation - AT

  8. Assessee challenged addition on account of unproved sundry creditors u/s 41(1), contending evidence of liability cessation was provided. AO held assessee failed to prove...

  9. Addition u/s 41(1) - long outstanding balances in sundry creditors accounts - AO made the additions, since the assessee has not shown any steps have been taken for...

  10. Addition u/s 41 - remission or cessation of liability proof - when the assessee is showing the liability in the books of account and has repaid in the subsequent years...

  11. Cessation of liability - Additions u/s 41(1) - Unsecured loans received on account of transfer entry made through banking channel - Sundry creditors for more than 4...

  12. Addition u/s.41(1) - cessation of liability - The onus is on the Assessee to show that year of cessation is different. - addition made in respect of trading liabilities...

  13. Addition u/s 41(1) - cessation of liability - waive of loan as part of one time settlement of loan with the banks - The benefit gained by the assessee on account of...

  14. The assessee company had shown the liability as outstanding amounts payable to three disputed creditors in its balance sheet as of 31.03.2015. The assessee provided...

  15. The assessing officer made an addition u/s 41(1) on the grounds that the assessee had ceased trading liabilities, even though the assessee did not respond to...

 

Quick Updates:Latest Updates