https://www.taxtmi.com/caselaws?id=209757 The High Court ruled in favor of the assessee, holding that the unclaimed salaries, wages, bonus, credit balances, and uncashed cheques written off did not amount to cessation of liability for the assessment year 1995-96. The additions made by the Assessing Officer were deemed not in accordance with law as Explanation 1 to Section 41(1) was not applicable retrospectively. Therefore, the amounts added to the assessee's income were deleted by the Tribunal, and the substantial question of law was answered in favor of the assessee. en-us Mon, 30 Jan 2012 00:00:00 +0530 Fri, 10 Feb 2012 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209757 The High Court ruled in favor of the assessee, holding that the unclaimed salaries, wages, bonus, credit balances, and uncashed cheques written off did not amount to cessation of liability for the assessment year 1995-96. The additions made by the Assessing Officer were deemed not in accordance with law as Explanation 1 to Section 41(1) was not applicable retrospectively. Therefore, the amounts added to the assessee's income were deleted by the Tribunal, and the substantial question of law was answered in favor of the assessee. Case-Laws Income Tax Mon, 30 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209757