https://www.taxtmi.com/caselaws?id=65478 The Tribunal concluded that the Rs. 10.65 crores received by the assessee was a loan for setting up a software development facility and not a trade advance. The forfeiture of this amount did not transform it into taxable income under Section 28 of the IT Act. The Tribunal reversed the orders of the AO and CIT(A), deleting the addition of Rs. 10.65 crores and allowing the appeal filed by the assessee. en-us Fri, 29 Aug 2008 00:00:00 +0530 Sat, 01 Jun 2013 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65478 The Tribunal concluded that the Rs. 10.65 crores received by the assessee was a loan for setting up a software development facility and not a trade advance. The forfeiture of this amount did not transform it into taxable income under Section 28 of the IT Act. The Tribunal reversed the orders of the AO and CIT(A), deleting the addition of Rs. 10.65 crores and allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 29 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65478