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2015 (11) TMI 1004 - SC - Income TaxPrincipal requirement for the applicability of Section 41 - whether the assessee must obtain a benefit in respect of a trading liability by way of a remission or cessation thereof? - Held that:- The assessee had not been granted the benefit of the said cessation for the Assessment Years in question, the High Court [2010 (6) TMI 18 - BOMBAY HIGH COURT] has rightly held that one of the requirements for the applicability of Section 41(1)(a) of the Act had not been fulfilled in the present case. - Decided in favour of assessee.
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