https://www.taxtmi.com/caselaws?id=6065 The SC dismissed the Revenue's appeal and affirmed the HC and Tribunal: the Rs.3,02,758 addition was correctly deleted because the purchase-tax liability had not finally ceased in the relevant year, so section 41(1) did not apply. The court held that since the dispute with the tax authority remained and the liability's exigibility was unresolved, the assumed benefit could not be treated as income of that year. The Tribunal's factual findings lacked rebuttal and were held relevant and justified. en-us Tue, 19 Mar 2002 00:00:00 +0530 Mon, 25 May 2026 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6065 The SC dismissed the Revenue's appeal and affirmed the HC and Tribunal: the Rs.3,02,758 addition was correctly deleted because the purchase-tax liability had not finally ceased in the relevant year, so section 41(1) did not apply. The court held that since the dispute with the tax authority remained and the liability's exigibility was unresolved, the assumed benefit could not be treated as income of that year. The Tribunal's factual findings lacked rebuttal and were held relevant and justified. Case-Laws Income Tax Tue, 19 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6065