https://www.taxtmi.com/caselaws?id=182561 The Tribunal dismissed the revenue's appeal and upheld the order allowing deductions for advance license benefits and Duty Free Replenishment Certificate receivable by the assessee. It was held that the benefits did not accrue until the raw material imported was consumed, following precedent that import entitlement receivable could not be treated as income accrued in the relevant year. The Tribunal affirmed the decision of the first appellate authority, denying the revenue's challenge. en-us Thu, 29 Jul 2010 00:00:00 +0530 Fri, 21 Sep 2018 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182561 The Tribunal dismissed the revenue's appeal and upheld the order allowing deductions for advance license benefits and Duty Free Replenishment Certificate receivable by the assessee. It was held that the benefits did not accrue until the raw material imported was consumed, following precedent that import entitlement receivable could not be treated as income accrued in the relevant year. The Tribunal affirmed the decision of the first appellate authority, denying the revenue's challenge. Case-Laws Income Tax Thu, 29 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182561