https://www.taxtmi.com/caselaws?id=21419 The High Court of CALCUTTA ruled in favor of the Revenue, upholding the Income-tax Officer's assessment under section 41(1) of the Income-tax Act, 1961 for the assessment year 1974-75. The Court found that the sales tax liability deduction ceased to exist following the final appellate order setting aside the ex parte assessment, with no pending appeals from the Sales Tax Department. Emphasizing the importance of finality in appellate orders, the judgment clarified the specific circumstances required for the application of section 41(1) in tax assessments, distinguishing it from cases with pending appeals or legislative changes impacting liability. en-us Tue, 06 Nov 1990 00:00:00 +0530 Fri, 24 Apr 2015 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21419 The High Court of CALCUTTA ruled in favor of the Revenue, upholding the Income-tax Officer's assessment under section 41(1) of the Income-tax Act, 1961 for the assessment year 1974-75. The Court found that the sales tax liability deduction ceased to exist following the final appellate order setting aside the ex parte assessment, with no pending appeals from the Sales Tax Department. Emphasizing the importance of finality in appellate orders, the judgment clarified the specific circumstances required for the application of section 41(1) in tax assessments, distinguishing it from cases with pending appeals or legislative changes impacting liability. Case-Laws Income Tax Tue, 06 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21419