https://www.taxtmi.com/caselaws?id=61992 The Tribunal upheld the decision to disallow the deduction claimed by the assessee, amounting to Rs. 3,40,000, characterizing it as interest rather than a provision for risk or anticipated loss. Despite the assessee's arguments based on the real income theory and the inherent risk in exporting to Sudan, the Tribunal found that the claimed amount lacked substantial basis beyond delay, equating it to interest. The Tribunal concluded that the deduction was interest and not a provision for risk, affirming the CIT (Appeals)'s decision to disallow the claim. en-us Mon, 31 Aug 1987 00:00:00 +0530 Mon, 17 Jan 2011 15:28:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61992 The Tribunal upheld the decision to disallow the deduction claimed by the assessee, amounting to Rs. 3,40,000, characterizing it as interest rather than a provision for risk or anticipated loss. Despite the assessee's arguments based on the real income theory and the inherent risk in exporting to Sudan, the Tribunal found that the claimed amount lacked substantial basis beyond delay, equating it to interest. The Tribunal concluded that the deduction was interest and not a provision for risk, affirming the CIT (Appeals)'s decision to disallow the claim. Case-Laws Income Tax Mon, 31 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61992