Taxpayer's Book Entries Acknowledge Debt Under Income Tax Act, Extending Liability Period Per Limitation Act Section 18.

Taxpayer's Book Entries Acknowledge Debt Under Income Tax Act, Extending Liability Period Per Limitation Act Section 18. https://www.taxtmi.com/highlights?id=24834 Invoking Section 41(1) - entries in the books of account of the assessee would amount to an acknowledgment of the liability within the meaning of section 18 of the Limitation Act, 1963, and extend the period of limitation for the discharge of the liability as debt - not a case of cessation of liability - AT en-us Mon, 21 Sep 2015 11:51:40 +0530 Mon, 21 Sep 2015 11:51:40 +0530 TaxTMI RSS Generator Taxpayer's Book Entries Acknowledge Debt Under Income Tax Act, Extending Liability Period Per Limitation Act Section 18. https://www.taxtmi.com/highlights?id=24834 Invoking Section 41(1) - entries in the books of account of the assessee would amount to an acknowledgment of the liability within the meaning of section 18 of the Limitation Act, 1963, and extend the period of limitation for the discharge of the liability as debt - not a case of cessation of liability - AT Highlights Income Tax Mon, 21 Sep 2015 11:51:40 +0530 https://www.taxtmi.com/highlights?id=24834