https://www.taxtmi.com/caselaws?id=35189 The High Court of Delhi dismissed the revenue's appeal against the deletion of Rs 50 lacs addition under Section 41(1) of the Income Tax Act for the assessment year 2002-2003. The Court held that since no income accrued to the assessee and no benefit was obtained, Section 41(1) was inapplicable as the amount was not entered in previous computations. The Court affirmed that writing off the sum did not attract Section 41(1) as the assessee did not derive any benefit. The appeal was dismissed, upholding the deletion of the addition by the lower authorities. en-us Fri, 15 Jan 2010 00:00:00 +0530 Sat, 02 Feb 2013 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35189 The High Court of Delhi dismissed the revenue's appeal against the deletion of Rs 50 lacs addition under Section 41(1) of the Income Tax Act for the assessment year 2002-2003. The Court held that since no income accrued to the assessee and no benefit was obtained, Section 41(1) was inapplicable as the amount was not entered in previous computations. The Court affirmed that writing off the sum did not attract Section 41(1) as the assessee did not derive any benefit. The appeal was dismissed, upholding the deletion of the addition by the lower authorities. Case-Laws Income Tax Fri, 15 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35189