https://www.taxtmi.com/caselaws?id=794155 GST refund received under the exclusive method of accounting was not assessable as income under section 143(1) where the indirect tax component had been kept as a receivable and not debited to the profit and loss account. The refund merely represented recovery of an amount already reflected as receivable from the GST department, so its inclusion in the tax audit report did not by itself justify an addition. Income character would arise only if the tax component had earlier been claimed as an expense. The addition was therefore deleted in favour of the assessee. en-us Thu, 25 Jun 2026 00:00:00 +0530 Wed, 01 Jul 2026 08:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794155 GST refund received under the exclusive method of accounting was not assessable as income under section 143(1) where the indirect tax component had been kept as a receivable and not debited to the profit and loss account. The refund merely represented recovery of an amount already reflected as receivable from the GST department, so its inclusion in the tax audit report did not by itself justify an addition. Income character would arise only if the tax component had earlier been claimed as an expense. The addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794155