Mere Transfer of Sundry Creditor Balances to Capital Account Does Not Trigger Section 41(1): Delhi ITAT Deletes Addition In an important ruling on remission or cessation of liability under Section 41(1) of the Income-tax Act, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in ACIT vs. Rajiv Tyagi has held that mere transfer of…
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