https://www.taxtmi.com/caselaws?id=794721 A refundable student caution money held by a charitable trust could not be assessed as income under section 41(1) because it was a security deposit, no deduction had earlier been claimed, the liability remained shown as payable, and there was no remission, write-back or other unequivocal cessation; mere lapse of time was insufficient, so the addition was deleted. Interest paid to specified persons under section 40A(2) was disallowed where the rate was found excessive compared with payments to unrelated parties, and that factual finding was sustained, so the disallowance was upheld. en-us Mon, 06 Jul 2026 00:00:00 +0530 Fri, 10 Jul 2026 07:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794721 A refundable student caution money held by a charitable trust could not be assessed as income under section 41(1) because it was a security deposit, no deduction had earlier been claimed, the liability remained shown as payable, and there was no remission, write-back or other unequivocal cessation; mere lapse of time was insufficient, so the addition was deleted. Interest paid to specified persons under section 40A(2) was disallowed where the rate was found excessive compared with payments to unrelated parties, and that factual finding was sustained, so the disallowance was upheld. Case-Laws Income Tax Mon, 06 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794721