https://www.taxtmi.com/caselaws?id=789257 Duty drawback income is taxed in the previous year of receipt under section 145B(3) read with section 2(24)(xviii), and this specific timing rule overrides an assessee's accrual-based claim for the same item. The amount is to be recognized when actually received, not merely when sanctioned or accrued. On the stated facts, taxation on an accrual basis was not justified, and the income was taxable only in the year of receipt. en-us Thu, 26 Feb 2026 00:00:00 +0530 Sat, 04 Apr 2026 12:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789257 Duty drawback income is taxed in the previous year of receipt under section 145B(3) read with section 2(24)(xviii), and this specific timing rule overrides an assessee's accrual-based claim for the same item. The amount is to be recognized when actually received, not merely when sanctioned or accrued. On the stated facts, taxation on an accrual basis was not justified, and the income was taxable only in the year of receipt. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789257