https://www.taxtmi.com/caselaws?id=6280 The Supreme Court upheld the High Court's decision, ruling that the remitted amount was not taxable in the hands of the current assessee under Section 41(1) of the Income-tax Act, 1961. The appeal was dismissed, affirming the judgment in favor of the assessee. The Court clarified that the widow, as the current assessee, could not be held liable for tax on the remitted amount as the section applied only to the assessee who originally obtained the deduction, which in this case would have been the deceased husband. en-us Fri, 17 Sep 1971 00:00:00 +0530 Mon, 30 Jun 2014 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6280 The Supreme Court upheld the High Court's decision, ruling that the remitted amount was not taxable in the hands of the current assessee under Section 41(1) of the Income-tax Act, 1961. The appeal was dismissed, affirming the judgment in favor of the assessee. The Court clarified that the widow, as the current assessee, could not be held liable for tax on the remitted amount as the section applied only to the assessee who originally obtained the deduction, which in this case would have been the deceased husband. Case-Laws Income Tax Fri, 17 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6280