Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied for applicability of the…
Addition for liability existing in balance sheet u/s 41(1). CIT(A) had no locus standi to enhance the assessment for the…
ITAT Amritsar, in a recent judgment, has held that no conclusion of cessation of creditor's liability u/s 41(1) can be…