https://www.taxtmi.com/caselaws?id=25715 The High Court of Rajasthan ruled in favor of the assessee in a case concerning the taxability of unclaimed wages and bonus for the assessment year 1972-73. The Court upheld the Tribunal's decision, stating that the unclaimed amounts were time-barred trading liabilities and that the law of limitation does not extinguish the liability but only bars the remedy. Consequently, the unclaimed wages and bonus were rightly excluded from the assessee's total income for the assessment year 1972-73, with each party bearing their own costs. en-us Mon, 27 Oct 1986 00:00:00 +0530 Sat, 30 Jan 2010 13:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25715 The High Court of Rajasthan ruled in favor of the assessee in a case concerning the taxability of unclaimed wages and bonus for the assessment year 1972-73. The Court upheld the Tribunal's decision, stating that the unclaimed amounts were time-barred trading liabilities and that the law of limitation does not extinguish the liability but only bars the remedy. Consequently, the unclaimed wages and bonus were rightly excluded from the assessee's total income for the assessment year 1972-73, with each party bearing their own costs. Case-Laws Income Tax Mon, 27 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25715