https://www.taxtmi.com/caselaws?id=190285 The Tribunal allowed the appeal in favor of the appellant, deleting the addition made by the authorities under sections 41(1) and 28(iv) of the Income Tax Act for the assessment year 2007-08. The Tribunal found that the liability to repay the advance against export remained on the appellant's balance sheet and had not been written off, indicating that the amount could not be treated as income. Ongoing correspondence with the party seeking refund approval further supported the appellant's position, leading to the successful outcome of the appeal. en-us Wed, 04 Jul 2012 00:00:00 +0530 Sat, 11 Feb 2017 10:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190285 The Tribunal allowed the appeal in favor of the appellant, deleting the addition made by the authorities under sections 41(1) and 28(iv) of the Income Tax Act for the assessment year 2007-08. The Tribunal found that the liability to repay the advance against export remained on the appellant's balance sheet and had not been written off, indicating that the amount could not be treated as income. Ongoing correspondence with the party seeking refund approval further supported the appellant's position, leading to the successful outcome of the appeal. Case-Laws Income Tax Wed, 04 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190285