Section 41(1) of Income Tax Act: No Additions if Expenditure Claimed Leads to Unsettable Loss u/s 72.

Section 41(1) of Income Tax Act: No Additions if Expenditure Claimed Leads to Unsettable Loss u/s 72. https://www.taxtmi.com/highlights?id=16788 Additions u/s 41(1) – If the assessee claims expenditure but ultimately if there is a loss and such loss cannot be set off u/s 72 - section 41(1) of the Act cannot be invoked - AT en-us Wed, 15 Jan 2014 11:37:25 +0530 Wed, 15 Jan 2014 11:37:25 +0530 TaxTMI RSS Generator Section 41(1) of Income Tax Act: No Additions if Expenditure Claimed Leads to Unsettable Loss u/s 72. https://www.taxtmi.com/highlights?id=16788 Additions u/s 41(1) – If the assessee claims expenditure but ultimately if there is a loss and such loss cannot be set off u/s 72 - section 41(1) of the Act cannot be invoked - AT Highlights Income Tax Wed, 15 Jan 2014 11:37:25 +0530 https://www.taxtmi.com/highlights?id=16788