1980 (4) TMI 89

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.... K. Chemicals Ltd. v. CIT [1966] 62 ITR 34 (Bom), while considering the provisions of s. 10(2A) of the Indian I.T. Act, 1922, the corresponding provision of which is s. 41(1) of the I.T. Act, 1961, the Division Bench of this court has clearly taken the view that the benefit contemplated by s. 10(2A) must be by way of " remission or cessation of liability " and no other benefit is contemplated. The....