https://www.taxtmi.com/caselaws?id=168473 The High Court held that the trading liability for unclaimed wages had not ceased under section 10(2A) of the Income-tax Act, despite the expiry of the three-year period. The Court emphasized that a debt remains even if recovery is barred by limitation, rejecting the Tribunal's decision. This ruling clarified the interpretation of trading liabilities, affirming that liabilities persist even if the remedy for recovery is time-barred. en-us Mon, 15 Oct 1962 00:00:00 +0530 Wed, 04 Mar 2015 16:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168473 The High Court held that the trading liability for unclaimed wages had not ceased under section 10(2A) of the Income-tax Act, despite the expiry of the three-year period. The Court emphasized that a debt remains even if recovery is barred by limitation, rejecting the Tribunal's decision. This ruling clarified the interpretation of trading liabilities, affirming that liabilities persist even if the remedy for recovery is time-barred. Case-Laws Income Tax Mon, 15 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168473