https://www.taxtmi.com/caselaws?id=188240 Reimbursement of an assessee's tax liability by a sister concern was not taxable as business income because section 41(1) did not apply where no allowance or deduction had been claimed in the earlier assessment year, and section 28(iv) did not apply because the receipt was not a business benefit. The Bombay High Court also held that the Tribunal was justified in declining the proposed reference question. On that basis, the reimbursement was not liable to be taxed in the assessee's hands. en-us Fri, 25 Jun 1993 00:00:00 +0530 Tue, 22 Nov 2016 18:12:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188240 Reimbursement of an assessee's tax liability by a sister concern was not taxable as business income because section 41(1) did not apply where no allowance or deduction had been claimed in the earlier assessment year, and section 28(iv) did not apply because the receipt was not a business benefit. The Bombay High Court also held that the Tribunal was justified in declining the proposed reference question. On that basis, the reimbursement was not liable to be taxed in the assessee's hands. Case-Laws Income Tax Fri, 25 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188240