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No cessation of liability under sec. 41(1) just because liability was more than 7 years old
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Corporate Tax
No cessation of liability under sec. 41(1) just because liability was more than 7 years old
Posted on
on
December 15, 2015
Tenet Tax Daily December 11 2015
By
tenettax-team
Corporate Tax
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No concealment penalty when assessee had shown non-compete fee as a capital receipt due to bona-fide belief
Interest disallowed as sum advanced by builder for acquisition of property wasn’t utilized by AE for said purpose
