1992 (1) TMI 7 - SC - Income Tax

Cancellation of the order regarding the previous year - whether the assessee s liability to excise duty in certain matters had ceased justifying action under section 41(1) - claim for deduction in respect of expenditure on scientific research

Summary

The Supreme Court judgment addressed three points: 1) cancellation of a change in the previous year for the assessee, 2) liability to excise duty, and 3) deduction for expenditure on scientific research. The High Court held that the cancellation of the previous year change was not justified, the excise duty liability had not ceased, and the expenditure on scientific research was allowable. The appeal was disposed of with no order regarding costs.