https://www.taxtmi.com/caselaws?id=25417 Following earlier Division Bench rulings involving the same assessee, the contingency reserve was held not to constitute commercial profit or real income and was therefore not includible in total assessable income. The HC affirmed that the Tribunal was correct in excluding the reserve from taxation, and the issue was decided against the Revenue and in favour of the assessee. en-us Wed, 20 May 1987 00:00:00 +0530 Thu, 28 Jan 2010 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25417 Following earlier Division Bench rulings involving the same assessee, the contingency reserve was held not to constitute commercial profit or real income and was therefore not includible in total assessable income. The HC affirmed that the Tribunal was correct in excluding the reserve from taxation, and the issue was decided against the Revenue and in favour of the assessee. Case-Laws Income Tax Wed, 20 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25417