https://www.taxtmi.com/caselaws?id=60105 The Tribunal held that the sum of Rs. 61,75,888 should not be taxed under section 41(1) of the Income-tax Act, 1961, as there was no cessation of liability for the purchase tax during the relevant assessment year. The Tribunal emphasized that the liability could only be considered ceased when the matter reached finality in the Supreme Court. Consequently, the department's appeal was dismissed, affirming the decision that the amount was not taxable under the mentioned provision. en-us Wed, 08 Mar 2000 00:00:00 +0530 Mon, 03 Jan 2011 17:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60105 The Tribunal held that the sum of Rs. 61,75,888 should not be taxed under section 41(1) of the Income-tax Act, 1961, as there was no cessation of liability for the purchase tax during the relevant assessment year. The Tribunal emphasized that the liability could only be considered ceased when the matter reached finality in the Supreme Court. Consequently, the department's appeal was dismissed, affirming the decision that the amount was not taxable under the mentioned provision. Case-Laws Income Tax Wed, 08 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60105