Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1981 (4) TMI 17 - HC - Income Tax
Extract:
.......nal was right in holding that there was neither a remission nor cessation of the trading liabilities in this case and, thus, the provisions of s. 41(1) of the Act would not be attracted. In the premises, we answer the question in the affirmative and in favour of the assessee. Each party to pay and bear its own costs. SABYASACHI MUKHARJI J.-I agree.