https://www.taxtmi.com/caselaws?id=39758 The High Court held that the Tribunal was not justified in treating the sum of Rs. 5,408 and Rs. 1,071 as income of the assessee for the assessment year 1963-64. The Court found that the conditions under section 41(1) of the Income-tax Act were not met, and the revenue could not rely on the fiction created by the section. The Court emphasized that the Rs. 5,408 could not be taxed as no allowance was made in earlier years, and the Rs. 1,071 was not considered income earned in the relevant year. The judgment favored the assessee, ruling against the department and awarding costs. en-us Thu, 18 Apr 1974 00:00:00 +0530 Tue, 20 Apr 2010 11:26:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39758 The High Court held that the Tribunal was not justified in treating the sum of Rs. 5,408 and Rs. 1,071 as income of the assessee for the assessment year 1963-64. The Court found that the conditions under section 41(1) of the Income-tax Act were not met, and the revenue could not rely on the fiction created by the section. The Court emphasized that the Rs. 5,408 could not be taxed as no allowance was made in earlier years, and the Rs. 1,071 was not considered income earned in the relevant year. The judgment favored the assessee, ruling against the department and awarding costs. Case-Laws Income Tax Thu, 18 Apr 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39758