Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1983 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1983 (4) TMI 6 - HC - Income TaxExtract: .......nce the assessee followed and maintained the mercantile system of accountancy and which in turn creates an obligation and a liability to repay as and when it is refunded, the same cannot be included in the income of the assessee for the purpose of computation. In the result, the question is answered in the affirmative and in favour of the assessee.
|