https://www.taxtmi.com/highlights?id=69959 Addition u/s 41(1) - addition towards waiver of liability / expenditure claimed earlier - One of the essential requirements of Section 41(1) of the Act is that there should be an allowance or deduction made in the assessment for any year in respect of loss or expenditure or trading liability. The AO has recorded a finding in para 3 of its order that the assessee has not filed the returns for the claim for the earlier years and thus no claim has been made by filing returns of income. - No additions - HC en-us Thu, 25 May 2023 17:38:11 +0530 Thu, 25 May 2023 17:38:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69959 Addition u/s 41(1) - addition towards waiver of liability / expenditure claimed earlier - One of the essential requirements of Section 41(1) of the Act is that there should be an allowance or deduction made in the assessment for any year in respect of loss or expenditure or trading liability. The AO has recorded a finding in para 3 of its order that the assessee has not filed the returns for the claim for the earlier years and thus no claim has been made by filing returns of income. - No additions - HC Highlights Income Tax Thu, 25 May 2023 17:38:11 +0530 https://www.taxtmi.com/highlights?id=69959