https://www.taxtmi.com/caselaws?id=377912 The Tribunal upheld the decision of the Ld. CIT(A) and ruled in favor of the Assessee, confirming that compensation received on account of loss of equipment is not taxable under section 44BB of the Income Tax Act, 1961. The Tribunal emphasized the finality of judicial decisions, noting that the dismissal of the Department's SLP by the Supreme Court settled the issue in favor of the Assessee. The Departmental Appeal was found to lack merit and was dismissed accordingly. en-us Tue, 02 Apr 2019 00:00:00 +0530 Thu, 04 Apr 2019 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377912 The Tribunal upheld the decision of the Ld. CIT(A) and ruled in favor of the Assessee, confirming that compensation received on account of loss of equipment is not taxable under section 44BB of the Income Tax Act, 1961. The Tribunal emphasized the finality of judicial decisions, noting that the dismissal of the Department's SLP by the Supreme Court settled the issue in favor of the Assessee. The Departmental Appeal was found to lack merit and was dismissed accordingly. Case-Laws Income Tax Tue, 02 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377912