https://www.taxtmi.com/highlights?id=48525 Cessation of liability u/s 41(1) - conversion of the loan as well as the unpaid interest into share capital - when there was no writing off of liabilities and only the sub-head, under which, the liability was shown in the account books of the assessee was changed and it continued to remain liable to pay even after change of entries, there could be no cessation of liability - not taxable en-us Fri, 09 Aug 2019 07:21:55 +0530 Fri, 09 Aug 2019 07:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48525 Cessation of liability u/s 41(1) - conversion of the loan as well as the unpaid interest into share capital - when there was no writing off of liabilities and only the sub-head, under which, the liability was shown in the account books of the assessee was changed and it continued to remain liable to pay even after change of entries, there could be no cessation of liability - not taxable Highlights Income Tax Fri, 09 Aug 2019 07:21:55 +0530 https://www.taxtmi.com/highlights?id=48525