Section 41(1) Income Tax: No Double Cessation of Liability Allowed for Different Assessment Years.

Section 41(1) Income Tax: No Double Cessation of Liability Allowed for Different Assessment Years. https://www.taxtmi.com/highlights?id=15188 Additions u/s 41(1) - There cannot be cessation of liability twice - Therefore, when as per Explanation (1) there would be cessation of liability in the FY 2012-13 i.e. relevant to the assessment year 2013-14, the addition for the same cannot be made by presuming remission or cessation of liability in the year under consideration i.e. AY 2007-08 - AT en-us Sat, 19 Oct 2013 14:02:25 +0530 Sat, 19 Oct 2013 14:02:25 +0530 TaxTMI RSS Generator Section 41(1) Income Tax: No Double Cessation of Liability Allowed for Different Assessment Years. https://www.taxtmi.com/highlights?id=15188 Additions u/s 41(1) - There cannot be cessation of liability twice - Therefore, when as per Explanation (1) there would be cessation of liability in the FY 2012-13 i.e. relevant to the assessment year 2013-14, the addition for the same cannot be made by presuming remission or cessation of liability in the year under consideration i.e. AY 2007-08 - AT Highlights Income Tax Sat, 19 Oct 2013 14:02:25 +0530 https://www.taxtmi.com/highlights?id=15188