Court Rules No Grounds for Addition u/s 41(1) in Chit Fund Liability Case; Deletions Ordered. https://www.taxtmi.com/highlights?id=14473 Chit Funds - Addition u/s 41(1) - ceasation of liability - Defaulted subscription - addition on account of chit lien which was not actually disbursed to the defaulters - there is no question of invoking the provisions of section 41(1) - additions deleted - AT en-us Fri, 13 Sep 2013 10:13:15 +0530 Fri, 13 Sep 2013 10:13:15 +0530 TaxTMI RSS Generator Court Rules No Grounds for Addition u/s 41(1) in Chit Fund Liability Case; Deletions Ordered. https://www.taxtmi.com/highlights?id=14473 Chit Funds - Addition u/s 41(1) - ceasation of liability - Defaulted subscription - addition on account of chit lien which was not actually disbursed to the defaulters - there is no question of invoking the provisions of section 41(1) - additions deleted - AT Highlights Income Tax Fri, 13 Sep 2013 10:13:15 +0530 https://www.taxtmi.com/highlights?id=14473