https://www.taxtmi.com/caselaws?id=14024 The High Court of Karnataka upheld the decision of the Commissioner (Appeals) regarding the assessability of excise duty refund under section 41(1) of the Income-tax Act for the assessment year 1989-90. The Tribunal's ruling that the excise duty refund is not assessable under section 41(1) was affirmed, emphasizing that the refund cannot be treated as remission or cessation of liability until the final decision of the Supreme Court is obtained. The Court highlighted the importance of whether the excise duty had actually been refunded to the assessee in determining assessability. en-us Wed, 05 Jan 2000 00:00:00 +0530 Tue, 07 Jul 2009 16:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14024 The High Court of Karnataka upheld the decision of the Commissioner (Appeals) regarding the assessability of excise duty refund under section 41(1) of the Income-tax Act for the assessment year 1989-90. The Tribunal's ruling that the excise duty refund is not assessable under section 41(1) was affirmed, emphasizing that the refund cannot be treated as remission or cessation of liability until the final decision of the Supreme Court is obtained. The Court highlighted the importance of whether the excise duty had actually been refunded to the assessee in determining assessability. Case-Laws Income Tax Wed, 05 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14024