https://www.taxtmi.com/caselaws?id=308382 The ITAT remanded the matter to the AO to verify if expenses related to the arbitration award were claimed in A.Y. 1993-94. The AO concluded that the assessee failed to provide evidence, resulting in the addition of Rs. 5,71,422/- to the income for A.Y. 2004-05. The ITAT directed the AO to decide based on the High Court's decision on whether the entire receipt from the arbitration award should be treated as income or only a certain percentage, allowing the appeal for statistical purposes pending the High Court's decision. en-us Fri, 18 Mar 2016 00:00:00 +0530 Wed, 21 Jun 2023 20:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308382 The ITAT remanded the matter to the AO to verify if expenses related to the arbitration award were claimed in A.Y. 1993-94. The AO concluded that the assessee failed to provide evidence, resulting in the addition of Rs. 5,71,422/- to the income for A.Y. 2004-05. The ITAT directed the AO to decide based on the High Court's decision on whether the entire receipt from the arbitration award should be treated as income or only a certain percentage, allowing the appeal for statistical purposes pending the High Court's decision. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308382