Addition u/s.41(1) - cessation of liability - The onus is on the ...

Taxpayers Must Prove Different Cessation Year u/s 41(1) or Face Taxable Business Income for Ceased Liabilities.

June 22, 2018

Case Laws Income Tax AT

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 which had ceased to exist represents taxable business income in terms of Section 41(1) of the Act.

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Addition u/s.41(1) - cessation of liability - The onus is on the ...

Taxpayers Must Prove Different Cessation Year u/s 41(1) or Face Taxable Business Income for Ceased Liabilities.

June 22, 2018

Case Laws Income Tax AT

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