https://www.taxtmi.com/caselaws?id=405037 The court held that the actual amount obtained by the assessee, excluding tax paid and not refunded, should be assessed as income under Section 41(1) of the Income Tax Act. It was determined that the issue was debatable, supporting the First Appellate Authority's decision overruling the Tribunal's stance. Consequently, the questions of law were answered affirmatively in favor of the assessee, leading to a ruling against the revenue. en-us Mon, 01 Mar 2021 00:00:00 +0530 Mon, 17 May 2021 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405037 The court held that the actual amount obtained by the assessee, excluding tax paid and not refunded, should be assessed as income under Section 41(1) of the Income Tax Act. It was determined that the issue was debatable, supporting the First Appellate Authority's decision overruling the Tribunal's stance. Consequently, the questions of law were answered affirmatively in favor of the assessee, leading to a ruling against the revenue. Case-Laws Income Tax Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405037