https://www.taxtmi.com/caselaws?id=789959 Duty drawback is taxable on actual receipt under the Income-tax Act, and an addition based on presumed higher receipts could not be sustained where the assessee's books and bank statements showed only amounts actually realised and the supporting CBEC material was not furnished for rebuttal. On that basis, the quantum addition was deleted. The consequential penalty under section 270A also fell away because it was wholly founded on the deleted addition and no separate misreporting survived. The matter thus turned on receipt-based taxation of duty drawback and the evidentiary failure underlying the estimated addition. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789959 Duty drawback is taxable on actual receipt under the Income-tax Act, and an addition based on presumed higher receipts could not be sustained where the assessee's books and bank statements showed only amounts actually realised and the supporting CBEC material was not furnished for rebuttal. On that basis, the quantum addition was deleted. The consequential penalty under section 270A also fell away because it was wholly founded on the deleted addition and no separate misreporting survived. The matter thus turned on receipt-based taxation of duty drawback and the evidentiary failure underlying the estimated addition. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789959