Addition for bogus purchases as unexplained cash credits whether u/s 68 or u/s 41(1) as cessation of liability? No additions…
No addition u/s 41(1) can be made unless liability is written off in accounts. AO has to brought evidence on…
Section 41(1) addition can not be invoked without any material evidence. High Court upheld quashing of addition made on account…
Transfer of creditor balances to capital account for better bank loan facilities was not waiver of liability u/s 41(1) being…
Creditors not barred by limitation if liability acknowledged in accounts, creditors can rely on the said acknowledgment-High Court ABCAUS…