https://www.taxtmi.com/caselaws?id=38856 The court held that section 41(1) of the Income-tax Act, 1961 applied to the sales tax refund received by the assessee. Additionally, the correct assessment year for taxing the sales tax refund was determined to be 1965-66, as the right to receive the refund crystallized upon the Supreme Court's judgment in 1964. The court affirmed the application of section 41(1) to the refund and upheld the assessment of income for the relevant year. The assessee was directed to bear the costs of the reference to the Commissioner. en-us Fri, 27 Feb 1976 00:00:00 +0530 Sat, 10 Apr 2010 10:12:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38856 The court held that section 41(1) of the Income-tax Act, 1961 applied to the sales tax refund received by the assessee. Additionally, the correct assessment year for taxing the sales tax refund was determined to be 1965-66, as the right to receive the refund crystallized upon the Supreme Court's judgment in 1964. The court affirmed the application of section 41(1) to the refund and upheld the assessment of income for the relevant year. The assessee was directed to bear the costs of the reference to the Commissioner. Case-Laws Income Tax Fri, 27 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38856