https://www.taxtmi.com/caselaws?id=20248 The Court ruled in favor of the Revenue, holding that the unclaimed amounts written back by the assessee were properly taxable as income arising from the cessation or remission of liabilities under section 41(1) of the Income-tax Act. The Court emphasized that the act of writing back indicated the assessee's intention to disown the liability, and the unenforceability of the debt did not negate its existence. en-us Fri, 27 Nov 1992 00:00:00 +0530 Thu, 12 Nov 2009 16:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20248 The Court ruled in favor of the Revenue, holding that the unclaimed amounts written back by the assessee were properly taxable as income arising from the cessation or remission of liabilities under section 41(1) of the Income-tax Act. The Court emphasized that the act of writing back indicated the assessee's intention to disown the liability, and the unenforceability of the debt did not negate its existence. Case-Laws Income Tax Fri, 27 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20248