Mere Acknowledgment of Unpaid Trade Liabilities in Books Does Not Constitute Remission or Cessation under Section 41(1)
Mere Acknowledgment of Unpaid Trade Liabilities in Books Does Not Constitute Remission or Cessation under Section 41(1) Issue Whether trade payables remaining unchanged for over two years can be treated as income due to remission or cessation of liability under Section 41(1) of the Income-tax Act, 1961, when the assessee continues to show them as… Read More »