https://www.taxtmi.com/caselaws?id=215469 The court ruled in favor of the revenue, holding that the lapse of time and resulting benefit to the assessee constituted a cessation of liability under Section 41(1) of the Income Tax Act. The court rejected the argument that absence of a limitation period under the Industrial Disputes Act exposed the assessee to liability at any time. Consequently, the court set aside the orders of the Commissioner (Appeals) and ITAT, restoring the Assessing Officer's decision. The appeal was allowed without any order on costs. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 06 Aug 2012 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215469 The court ruled in favor of the revenue, holding that the lapse of time and resulting benefit to the assessee constituted a cessation of liability under Section 41(1) of the Income Tax Act. The court rejected the argument that absence of a limitation period under the Industrial Disputes Act exposed the assessee to liability at any time. Consequently, the court set aside the orders of the Commissioner (Appeals) and ITAT, restoring the Assessing Officer's decision. The appeal was allowed without any order on costs. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215469