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2018 (9) TMI 230 - HC - Income TaxAddition u/s 41 - Profits chargeable to tax - Held that:- In the present case there was no unilateral act by way of remission or cessation by the assessee, for the respondent-assessee had not written off the outstanding amount of ₹ 2,61,72,160/- payable to M/s. P.T. Polysindo. This is also not a case where benefit in any form or in cash was received by the respondent-assessee. Hence, the first part of Clause (a) to Section 41(1) of the Act, would not apply. In the present case the respondent-assessee has not obtained any money or benefit under the first part or the deeming part of Clause (a) to Sub-section 1 to Section 41 of the Act. There was no remission or cessation of liability. - decided in favour of assessee
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