https://www.taxtmi.com/caselaws?id=9190 The Court held that a portion of the amount in question could not be treated as income under section 41(1) as it was not allowed as a deduction to the assessee. Additionally, the Court found that there was no cessation of liability in relation to another sum, making section 41 inapplicable. The Court ruled in favor of the assessee on both issues, directing each party to bear their respective costs. en-us Fri, 02 Feb 1973 00:00:00 +0530 Thu, 23 Mar 2017 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9190 The Court held that a portion of the amount in question could not be treated as income under section 41(1) as it was not allowed as a deduction to the assessee. Additionally, the Court found that there was no cessation of liability in relation to another sum, making section 41 inapplicable. The Court ruled in favor of the assessee on both issues, directing each party to bear their respective costs. Case-Laws Income Tax Fri, 02 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9190