https://www.taxtmi.com/caselaws?id=267530 The advances received by the assessee from various producers were held not assessable as income for the respective assessment years. The Tribunal found no incriminating material to justify taxing the advances, emphasizing the absence of written agreements and the nature of the advances as token amounts for future preference. The Tribunal overturned the lower authorities' decisions, deleting the additions and allowing all appeals of the assessee. The orders were pronounced on June 30, 2015. en-us Tue, 30 Jun 2015 00:00:00 +0530 Sat, 07 Nov 2015 11:30:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267530 The advances received by the assessee from various producers were held not assessable as income for the respective assessment years. The Tribunal found no incriminating material to justify taxing the advances, emphasizing the absence of written agreements and the nature of the advances as token amounts for future preference. The Tribunal overturned the lower authorities' decisions, deleting the additions and allowing all appeals of the assessee. The orders were pronounced on June 30, 2015. Case-Laws Income Tax Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267530