https://www.taxtmi.com/caselaws?id=63947 The Tribunal held that the refund of central excise was assessable in the year of receipt under Section 41(1) of the Income-tax Act, 1961. The issue of whether any deduction or allowance had been made in any year in respect of the excise duty refund was remitted to the CIT(A) for further examination. The Tribunal also directed a reassessment of disallowances related to various expenses and income sources. The appeal of the assessee was partly allowed, with specific matters referred back to the CIT(A) for additional review. en-us Wed, 31 Oct 1990 00:00:00 +0530 Wed, 02 Feb 2011 17:58:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63947 The Tribunal held that the refund of central excise was assessable in the year of receipt under Section 41(1) of the Income-tax Act, 1961. The issue of whether any deduction or allowance had been made in any year in respect of the excise duty refund was remitted to the CIT(A) for further examination. The Tribunal also directed a reassessment of disallowances related to various expenses and income sources. The appeal of the assessee was partly allowed, with specific matters referred back to the CIT(A) for additional review. Case-Laws Income Tax Wed, 31 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63947