https://www.taxtmi.com/caselaws?id=253413 The High Court determined that the amount on account of cash incentive and duty draw back, even if claimed but not actually received by the assessee, would not be taxable under the Income Tax Act. Relying on previous judgments and the lack of new arguments from the revenue, the Court ruled against the revenue's appeal. Additionally, evidence presented by the appellant regarding the eventual adjustment of the incentives in a later assessment year further supported the decision. The case was resolved in favor of the assessee based on established legal principles and factual evidence. en-us Tue, 04 Nov 2014 00:00:00 +0530 Wed, 18 Feb 2015 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253413 The High Court determined that the amount on account of cash incentive and duty draw back, even if claimed but not actually received by the assessee, would not be taxable under the Income Tax Act. Relying on previous judgments and the lack of new arguments from the revenue, the Court ruled against the revenue's appeal. Additionally, evidence presented by the appellant regarding the eventual adjustment of the incentives in a later assessment year further supported the decision. The case was resolved in favor of the assessee based on established legal principles and factual evidence. Case-Laws Income Tax Tue, 04 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253413