https://www.taxtmi.com/caselaws?id=17182 The High Court affirmed the Tribunal's decision that section 41(2) of the Income-tax Act, 1961 applied to the case involving the compulsory acquisition of assets by the government. The Court held that the consideration received exceeded the written down value of the assets, making it taxable under section 41(2). The Court directed the Tribunal to verify the cost fixed for each item of the undertaking taken over to ensure proper application of the provision. en-us Fri, 19 Apr 1996 00:00:00 +0530 Tue, 15 Sep 2009 16:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17182 The High Court affirmed the Tribunal's decision that section 41(2) of the Income-tax Act, 1961 applied to the case involving the compulsory acquisition of assets by the government. The Court held that the consideration received exceeded the written down value of the assets, making it taxable under section 41(2). The Court directed the Tribunal to verify the cost fixed for each item of the undertaking taken over to ensure proper application of the provision. Case-Laws Income Tax Fri, 19 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17182