https://www.taxtmi.com/caselaws?id=24191 Sales tax refund received during the previous year was treated as taxable income in the year of receipt under section 41(1) of the Income-tax Act, 1961, after accounting for amounts returned to customers. The Kerala High Court noted that an earlier binding Bench decision on substantially similar facts had already settled the issue and applied section 41(1). On that basis, it held that no referable question of law arose under section 256(2). The request for reference therefore failed, and the original petition was dismissed. en-us Wed, 25 Jan 1989 00:00:00 +0530 Mon, 18 Jan 2010 14:12:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24191 Sales tax refund received during the previous year was treated as taxable income in the year of receipt under section 41(1) of the Income-tax Act, 1961, after accounting for amounts returned to customers. The Kerala High Court noted that an earlier binding Bench decision on substantially similar facts had already settled the issue and applied section 41(1). On that basis, it held that no referable question of law arose under section 256(2). The request for reference therefore failed, and the original petition was dismissed. Case-Laws Income Tax Wed, 25 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24191