https://www.taxtmi.com/caselaws?id=21859 The court ruled in favor of the assessee regarding the deduction of the written-back bonus amount for the assessment year 1976-77 to avoid double taxation. The claim for liquidated damages for the assessment year 1977-78 was also allowed as the liability no longer existed. However, the court upheld the decision against the assessee regarding the initial depreciation on electric generators and the treatment of time-barred liabilities, concluding that the amounts written back were taxable under section 41(1) of the Income-tax Act. en-us Mon, 25 Mar 1991 00:00:00 +0530 Wed, 02 Dec 2009 12:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21859 The court ruled in favor of the assessee regarding the deduction of the written-back bonus amount for the assessment year 1976-77 to avoid double taxation. The claim for liquidated damages for the assessment year 1977-78 was also allowed as the liability no longer existed. However, the court upheld the decision against the assessee regarding the initial depreciation on electric generators and the treatment of time-barred liabilities, concluding that the amounts written back were taxable under section 41(1) of the Income-tax Act. Case-Laws Income Tax Mon, 25 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21859