https://www.taxtmi.com/caselaws?id=466425 Section 41(1) addition cannot be applied for the year unless there is remission or cessation of liability in that year; continuation of the creditor liability in books and recognition of foreign exchange restatement under accepted accounting practice does not alone establish write-off, and the assessing officer must verify subsequent write-offs and offers to tax before disallowing proportionate foreign exchange loss for AY 2014-15. Similarly, interest under Section 234A depends on the verifiable return filing date; if the return was filed within the statutory due date, interest must be withdrawn. Matters are set aside for limited factual verification and relief if verified. en-us Tue, 13 Jan 2026 00:00:00 +0530 Mon, 16 Feb 2026 14:28:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466425 Section 41(1) addition cannot be applied for the year unless there is remission or cessation of liability in that year; continuation of the creditor liability in books and recognition of foreign exchange restatement under accepted accounting practice does not alone establish write-off, and the assessing officer must verify subsequent write-offs and offers to tax before disallowing proportionate foreign exchange loss for AY 2014-15. Similarly, interest under Section 234A depends on the verifiable return filing date; if the return was filed within the statutory due date, interest must be withdrawn. Matters are set aside for limited factual verification and relief if verified. Case-Laws Income Tax Tue, 13 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466425