https://www.taxtmi.com/caselaws?id=802399 Section 41(1) requires remission or cessation of a trading liability and a resulting benefit in the relevant year. An old credit that remained outstanding during that year cannot be added on account of its write-back and taxation in the succeeding year. Under the project completion method, separate registration and completion of one tower do not justify recognising its sales income separately where the towers form one approved project and receipts are offered to tax upon completion of the whole project. The maintenance charges and GST addition requires fresh determination after a reasonable hearing, given the specific assertion that no opportunity to respond was provided; its merits remain undecided. en-us Mon, 12 Oct 2026 00:00:00 +0530 Thu, 05 Nov 2026 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802399 Section 41(1) requires remission or cessation of a trading liability and a resulting benefit in the relevant year. An old credit that remained outstanding during that year cannot be added on account of its write-back and taxation in the succeeding year. Under the project completion method, separate registration and completion of one tower do not justify recognising its sales income separately where the towers form one approved project and receipts are offered to tax upon completion of the whole project. The maintenance charges and GST addition requires fresh determination after a reasonable hearing, given the specific assertion that no opportunity to respond was provided; its merits remain undecided. Case-Laws Income Tax Mon, 12 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802399