https://www.taxtmi.com/caselaws?id=220604 The High Court held that the provision made for retirement gratuity written back in a subsequent year did not constitute remission or cessation of liability as required by Section 41(1) of the Income-tax Act, 1961. The court distinguished previous cases and emphasized that unilateral writing back alone did not trigger taxation under Section 41(1). The court ruled in favor of the assessee, upholding the decisions of the lower authorities that the sum in question could not be taxed under Section 41(1) for the relevant assessment year. en-us Thu, 03 Jan 2013 00:00:00 +0530 Tue, 02 Jul 2013 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220604 The High Court held that the provision made for retirement gratuity written back in a subsequent year did not constitute remission or cessation of liability as required by Section 41(1) of the Income-tax Act, 1961. The court distinguished previous cases and emphasized that unilateral writing back alone did not trigger taxation under Section 41(1). The court ruled in favor of the assessee, upholding the decisions of the lower authorities that the sum in question could not be taxed under Section 41(1) for the relevant assessment year. Case-Laws Income Tax Thu, 03 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220604