https://www.taxtmi.com/caselaws?id=798953 Section 41(1) applies only where the relevant expenditure or trading liability was previously allowed as a deduction and the taxpayer subsequently obtains a benefit through remission or cessation. Interest earlier disallowed under section 43B, continuing in the balance sheet without write-back, waiver, settlement or discharge, cannot be added under section 41(1); assignment of debt by a lender does not extinguish the borrower's liability. Depreciation remains available for a building continuing in the existing block of assets and available for business use. Lack of operating revenue or creation of a mortgage, without permanent business closure, sale, discard or loss of availability, does not justify denying depreciation. en-us Fri, 21 Aug 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798953 Section 41(1) applies only where the relevant expenditure or trading liability was previously allowed as a deduction and the taxpayer subsequently obtains a benefit through remission or cessation. Interest earlier disallowed under section 43B, continuing in the balance sheet without write-back, waiver, settlement or discharge, cannot be added under section 41(1); assignment of debt by a lender does not extinguish the borrower's liability. Depreciation remains available for a building continuing in the existing block of assets and available for business use. Lack of operating revenue or creation of a mortgage, without permanent business closure, sale, discard or loss of availability, does not justify denying depreciation. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798953