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Court Rules Against Double Taxation on Liabilities Written Off in Subsequent Years; Income Not Taxable Again.

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....Addition u/s 41(1) - appellant has written of some of the liabilities in the subsequent assessment years and offered the same as income - taxing such income in the year under consideration would amount to taxing the same income twice, which is impermissible in law....

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Court Rules Against Double Taxation on Liabilities Written Off in Subsequent Years; Income Not Taxable Again.