Liability Not Sustainable u/s 41(1) If Shown in Books and Repaid Later by Assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 41 - remission or cessation of liability proof - when the assessee is showing the liability in the books of account and has repaid in the subsequent years then the addition under section 41(1) of the Act is not sustainable. - AT....