https://www.taxtmi.com/caselaws?id=219051 The court upheld the decision that the mobilization advance received by the assessee was not taxable income but an advance for mobilizing resources, to be adjusted against future billing. Additionally, the court ruled that a certain outstanding liability was not ceased as it was still acknowledged in the company's accounts, leading to the deletion of its addition to income under Section 41(1) of the IT Act. The appeal by the revenue was dismissed, affirming the CIT (A)'s decision on both issues. en-us Fri, 02 Nov 2012 00:00:00 +0530 Tue, 04 Dec 2012 00:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219051 The court upheld the decision that the mobilization advance received by the assessee was not taxable income but an advance for mobilizing resources, to be adjusted against future billing. Additionally, the court ruled that a certain outstanding liability was not ceased as it was still acknowledged in the company's accounts, leading to the deletion of its addition to income under Section 41(1) of the IT Act. The appeal by the revenue was dismissed, affirming the CIT (A)'s decision on both issues. Case-Laws Income Tax Fri, 02 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219051