https://www.taxtmi.com/caselaws?id=282268 Unreconciled inter-branch entries routed through the profit and loss account under Reserve Bank of India directions were treated as a regulatory reconciliation mechanism, not as receipts from external trading transactions or revenue surplus. Because the underlying accounting difference retained its character as an internal adjustment and remained subject to future claims and record-keeping obligations, the transfer did not change the amount into taxable income. On that basis, the entries were not brought to tax as income in the bank's hands. en-us Tue, 15 May 2018 00:00:00 +0530 Wed, 31 Jul 2019 04:31:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282268 Unreconciled inter-branch entries routed through the profit and loss account under Reserve Bank of India directions were treated as a regulatory reconciliation mechanism, not as receipts from external trading transactions or revenue surplus. Because the underlying accounting difference retained its character as an internal adjustment and remained subject to future claims and record-keeping obligations, the transfer did not change the amount into taxable income. On that basis, the entries were not brought to tax as income in the bank's hands. Case-Laws Income Tax Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282268