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<h1>Calcutta High Court: Section 41(1) IT Act not applicable when no deduction claimed. (1)</h1> <h3>Commissioner of Income Tax Versus A. Tosh & Sons (P) Ltd.</h3> The High Court of Calcutta ruled in favor of the assessee, stating that section 41(1) of the IT Act, 1961 could not be applied as the assessee did not ... - The High Court of Calcutta ruled in favor of the assessee regarding the interest on fixed deposits and the sum credited in the P&L account, citing a previous decision. The court held that the provisions of section 41(1) of the IT Act, 1961 could not be applied as the assessee did not claim any deduction.