Tax Paid Since 1995-96 Not Refundable, Not Taxable as Profit Under Income Tax Act Section 41(1.

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....Addition u/s 41(1) - amount ceased to be a liability - The amounts paid as tax has not been obtained in 1995- 96 as the same had not been refunded. Until the amount of TDS is refunded, that amount cannot be treated as amount obtained by the assessee. The amount of TDS and interest can be deemed to be profits and gains and chargeable to tax only on refund. - HC....