https://www.taxtmi.com/caselaws?id=49605 The Supreme Court upheld the High Court's decision that the sum of Rs. 2,31,009 received as repayment of excess profits tax in England was considered income of the assessee during the assessment year 1947-1948 and was liable to be assessed under the Indian Income-tax Act. The court determined that the repayment was to be treated as income for tax purposes and affirmed the High Court's interpretation that the relevant provision created a liability by itself. The appeal was dismissed with costs. en-us Mon, 16 Mar 1959 00:00:00 +0530 Thu, 04 Sep 2014 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49605 The Supreme Court upheld the High Court's decision that the sum of Rs. 2,31,009 received as repayment of excess profits tax in England was considered income of the assessee during the assessment year 1947-1948 and was liable to be assessed under the Indian Income-tax Act. The court determined that the repayment was to be treated as income for tax purposes and affirmed the High Court's interpretation that the relevant provision created a liability by itself. The appeal was dismissed with costs. Case-Laws Income Tax Mon, 16 Mar 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49605