https://www.taxtmi.com/caselaws?id=207592 The Tribunal upheld the CIT(A)'s order, confirming the addition of Rs. 1,78,74,364/- under Section 41(1)/28(iv) for AY 2007-08. The Tribunal held that the remission of liability, though not recognized as income from the project, was taxable as part of the trading activity. The Tribunal found that the remission accrued in the year under consideration and dismissed the assessee's argument regarding the timing of the remission. The order was pronounced on February 28, 2011. en-us Mon, 28 Feb 2011 00:00:00 +0530 Thu, 07 Jul 2011 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207592 The Tribunal upheld the CIT(A)'s order, confirming the addition of Rs. 1,78,74,364/- under Section 41(1)/28(iv) for AY 2007-08. The Tribunal held that the remission of liability, though not recognized as income from the project, was taxable as part of the trading activity. The Tribunal found that the remission accrued in the year under consideration and dismissed the assessee's argument regarding the timing of the remission. The order was pronounced on February 28, 2011. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207592