https://www.taxtmi.com/caselaws?id=22240 The Tribunal ruled in favor of the respondent-assessee, a public sector undertaking, in a case involving the classification of an amount claimed as excess receivable for pharmaceutical supplies to the Government. The Tribunal held that the claimed amount did not constitute accrued income but was a mere unilateral claim. Citing relevant precedents, the Tribunal concluded that the amount should be excluded from total receipts as it did not represent real income. The decision favored the assessee and rejected the Revenue's argument, emphasizing that only real income is taxable. en-us Mon, 25 Mar 1991 00:00:00 +0530 Tue, 08 Dec 2009 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22240 The Tribunal ruled in favor of the respondent-assessee, a public sector undertaking, in a case involving the classification of an amount claimed as excess receivable for pharmaceutical supplies to the Government. The Tribunal held that the claimed amount did not constitute accrued income but was a mere unilateral claim. Citing relevant precedents, the Tribunal concluded that the amount should be excluded from total receipts as it did not represent real income. The decision favored the assessee and rejected the Revenue's argument, emphasizing that only real income is taxable. Case-Laws Income Tax Mon, 25 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22240