https://www.taxtmi.com/caselaws?id=19576 The High Court upheld the Tribunal's decision in an Income-tax Case regarding the treatment of receipts from Government agencies as advances or sales. The Court emphasized the need to distinguish between advances and sales, directing the Assessing Officer to verify the timing of sales in connection with the advances. The Court dismissed the petitioner's arguments, stating that no referable question of law arose from the Tribunal's order and upheld the decision to remand the case for further assessment of profits based on sales timing. en-us Thu, 03 Feb 1994 00:00:00 +0530 Sat, 07 Nov 2009 11:27:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19576 The High Court upheld the Tribunal's decision in an Income-tax Case regarding the treatment of receipts from Government agencies as advances or sales. The Court emphasized the need to distinguish between advances and sales, directing the Assessing Officer to verify the timing of sales in connection with the advances. The Court dismissed the petitioner's arguments, stating that no referable question of law arose from the Tribunal's order and upheld the decision to remand the case for further assessment of profits based on sales timing. Case-Laws Income Tax Thu, 03 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19576