https://www.taxtmi.com/caselaws?id=429120 The Tribunal found that the provisions of section 41(1) of the Income Tax Act were incorrectly applied by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). The Tribunal determined that the assessee did not benefit from the write-off in a manner that would trigger section 41(1). Therefore, the Tribunal reversed the decision of the Commissioner of Income Tax (Appeals) and ruled in favor of the assessee. The appeal was allowed, and the order was issued on 16th September 2022 in Chennai. en-us Fri, 16 Sep 2022 00:00:00 +0530 Tue, 18 Oct 2022 11:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429120 The Tribunal found that the provisions of section 41(1) of the Income Tax Act were incorrectly applied by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). The Tribunal determined that the assessee did not benefit from the write-off in a manner that would trigger section 41(1). Therefore, the Tribunal reversed the decision of the Commissioner of Income Tax (Appeals) and ruled in favor of the assessee. The appeal was allowed, and the order was issued on 16th September 2022 in Chennai. Case-Laws Income Tax Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429120