https://www.taxtmi.com/highlights?id=55929 Addition u/s 41(1) - Once the AO has allowed the assessee’s corresponding material purchases claim in the revenue account as a regular head of expenditure, the same very amount could not have been added as a bogus sundry creditor liability u/s 41(1) - when there is no indication about the said sum involving any cessation or remission of liability no reason to accept Revenue’s arguments seeking to revive the impugned sec. 41(1) addition - AT en-us Thu, 17 Dec 2020 09:43:58 +0530 Thu, 17 Dec 2020 09:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55929 Addition u/s 41(1) - Once the AO has allowed the assessee’s corresponding material purchases claim in the revenue account as a regular head of expenditure, the same very amount could not have been added as a bogus sundry creditor liability u/s 41(1) - when there is no indication about the said sum involving any cessation or remission of liability no reason to accept Revenue’s arguments seeking to revive the impugned sec. 41(1) addition - AT Highlights Income Tax Thu, 17 Dec 2020 09:43:58 +0530 https://www.taxtmi.com/highlights?id=55929