https://www.taxtmi.com/caselaws?id=36518 Section 10(2A) of the Indian Income-tax Act, 1922 applies only where an earlier allowance or deduction was made for a specific loss, expenditure or trading liability, and the later remission or cessation of that same liability is clearly identifiable. On the facts, a lump-sum settlement accepted in full satisfaction of claims, interest and costs did not permit the revenue to isolate any definite portion attributable to remission of interest or to a liability previously allowed as a deduction. Without such certainty, the deeming provision could not be invoked, and the amount was not assessable. en-us Tue, 22 Jul 1980 00:00:00 +0530 Tue, 23 Mar 2010 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36518 Section 10(2A) of the Indian Income-tax Act, 1922 applies only where an earlier allowance or deduction was made for a specific loss, expenditure or trading liability, and the later remission or cessation of that same liability is clearly identifiable. On the facts, a lump-sum settlement accepted in full satisfaction of claims, interest and costs did not permit the revenue to isolate any definite portion attributable to remission of interest or to a liability previously allowed as a deduction. Without such certainty, the deeming provision could not be invoked, and the amount was not assessable. Case-Laws Income Tax Tue, 22 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36518