Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Page of 4786
Press 'Enter' after typing page number.
121 to 140 of 95715 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite the assessing officer invoking section 68 of the Income Tax Act, the Commissioner of Income Tax (Appeals) upheld the addition under section 41(1), citing long-standing outstanding credits. However, the Appellate Tribunal ruled in favor of the appellant, finding insufficient evidence of cessation of liabilities. Specific cases were examined, and additions were deleted due to lack of evidence or the appellant's satisfactory explanations.
Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite the assessing officer invoking section 68 of the Income Tax Act, the Commissioner of Income Tax (Appeals) upheld the addition under section 41(1), citing long-standing outstanding credits. However, the Appellate Tribunal ruled in favor of the appellant, finding insufficient evidence of cessation of liabilities. Specific cases were examined, and additions were deleted due to lack of evidence or the appellant's satisfactory explanations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
