Meaning of tax terms

Meaning of ” Liability determined”

Posted on by Prashant Thakur

Case Name : Sree balaji refinery vs. Dy. CIT

Citation : [2012] 20 TAXMANN.COM 183/208 TAXMAN 383/250 CTR 297 (KER.)

Court : Kerala High Court

Section : 132

Meaning : The expression ‘liability determined’ as occurring in section 132b(1)(i) should be understood as liability to be determined in an assessment.

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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