https://www.taxtmi.com/caselaws?id=21700 The court affirmed the Tribunal's decision that the sum received on account of excess measurement should be treated as an advance payment and not as taxable income in the current year. The excess payments were considered advances to be adjusted in future work, resembling a deposit rather than income. The court emphasized the possibility for the Revenue to assess the amount as income if it ceases to be held as a deposit in the future. The ruling favored the assessee over the Revenue. en-us Wed, 17 Jul 1991 00:00:00 +0530 Thu, 26 Nov 2009 18:44:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21700 The court affirmed the Tribunal's decision that the sum received on account of excess measurement should be treated as an advance payment and not as taxable income in the current year. The excess payments were considered advances to be adjusted in future work, resembling a deposit rather than income. The court emphasized the possibility for the Revenue to assess the amount as income if it ceases to be held as a deposit in the future. The ruling favored the assessee over the Revenue. Case-Laws Income Tax Wed, 17 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21700