https://www.taxtmi.com/caselaws?id=21339 HC held that a refunded excise duty received during pendency of review under section 36(2) became includible in income under section 41(1) only in the year the revisional proceedings were dropped. The court found the refund, though physically paid earlier, was conditional and only accrued finally on the date the review was discontinued, making it taxable in assessment year 1976-77 rather than 1974-75. The Tribunal's approach was upheld and both referred questions were answered in favour of the assessee and against the revenue. en-us Tue, 28 Jan 1992 00:00:00 +0530 Fri, 24 Oct 2025 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21339 HC held that a refunded excise duty received during pendency of review under section 36(2) became includible in income under section 41(1) only in the year the revisional proceedings were dropped. The court found the refund, though physically paid earlier, was conditional and only accrued finally on the date the review was discontinued, making it taxable in assessment year 1976-77 rather than 1974-75. The Tribunal's approach was upheld and both referred questions were answered in favour of the assessee and against the revenue. Case-Laws Income Tax Tue, 28 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21339