Upgrade to AI Tools ✕

We've upgraded AI Tools on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Income Tax Act: No Addition u/s 41(1) Without Actual Benefit from Liability Remission or Cessation.

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(1) - It is evident that obtaining of any benefit by the assessee in the form remission or cessation is sine qua non for invoking section 41(1). If the liability continues to exist, the factum of delay in payment does not ipso facto requires addition u/s. 41(1) - CIT(A) rightly deleted the additions - AT....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Income Tax Act: No Addition u/s 41(1) Without Actual Benefit from Liability Remission or Cessation.