https://www.taxtmi.com/caselaws?id=6091 Where an assessee had paid a statutory levy on goods, claimed and obtained deduction/allowance of that expenditure in earlier assessments, and later received a refund of the same amount, the refund constitutes a taxable deemed income under s. 41(1) on the "obtained any amount in respect of such expenditure" limb. The SC held that this situation is not governed by the "remission or cessation of trading liability" test, which applies only to trading liabilities and cannot be imported into the earlier clause. The possibility that a higher forum may later restore the levy is irrelevant to immediate taxability; the assessee may seek consequential relief if the levy is ultimately upheld. The appeal was dismissed. en-us Fri, 06 Sep 2002 00:00:00 +0530 Wed, 24 Dec 2025 21:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6091 Where an assessee had paid a statutory levy on goods, claimed and obtained deduction/allowance of that expenditure in earlier assessments, and later received a refund of the same amount, the refund constitutes a taxable deemed income under s. 41(1) on the "obtained any amount in respect of such expenditure" limb. The SC held that this situation is not governed by the "remission or cessation of trading liability" test, which applies only to trading liabilities and cannot be imported into the earlier clause. The possibility that a higher forum may later restore the levy is irrelevant to immediate taxability; the assessee may seek consequential relief if the levy is ultimately upheld. The appeal was dismissed. Case-Laws Income Tax Fri, 06 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6091