https://www.taxtmi.com/caselaws?id=65077 The ITAT DELHI-E allowed the appeal of the assessee, directing the Assessing Officer to allow the deduction of a recovered salary amount for the period from 1-4-1967 to 31-3-1969. The ITAT emphasized that tax should be levied on income earned in reality and concluded that the excess salary collected but later returned did not constitute income in reality. The decision highlighted the principles of justice and fairness in taxation, rectifying the tax collection on income not received in reality and ultimately allowing the deduction claimed by the assessee in the assessment year 1972-73. en-us Fri, 06 Mar 1998 00:00:00 +0530 Sat, 12 Feb 2011 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65077 The ITAT DELHI-E allowed the appeal of the assessee, directing the Assessing Officer to allow the deduction of a recovered salary amount for the period from 1-4-1967 to 31-3-1969. The ITAT emphasized that tax should be levied on income earned in reality and concluded that the excess salary collected but later returned did not constitute income in reality. The decision highlighted the principles of justice and fairness in taxation, rectifying the tax collection on income not received in reality and ultimately allowing the deduction claimed by the assessee in the assessment year 1972-73. Case-Laws Income Tax Fri, 06 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65077