https://www.taxtmi.com/caselaws?id=791793 Refunds of GST, sales tax and service tax were not taxable as business income where the assessee consistently followed an exclusive method of accounting, did not debit the taxes to profit and loss account, and had not claimed them as expenditure; on those facts, section 41(1) and section 28(i) did not apply, so the addition was deleted. Margin on finished goods converted into capital assets could not be added again when the same amount had already been separately disclosed in the tax audit report and offered to tax in the return; the further adjustment resulted in double taxation and was deleted. en-us Mon, 20 Apr 2026 00:00:00 +0530 Sat, 16 May 2026 10:43:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791793 Refunds of GST, sales tax and service tax were not taxable as business income where the assessee consistently followed an exclusive method of accounting, did not debit the taxes to profit and loss account, and had not claimed them as expenditure; on those facts, section 41(1) and section 28(i) did not apply, so the addition was deleted. Margin on finished goods converted into capital assets could not be added again when the same amount had already been separately disclosed in the tax audit report and offered to tax in the return; the further adjustment resulted in double taxation and was deleted. Case-Laws Income Tax Mon, 20 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791793