https://www.taxtmi.com/caselaws?id=800406 GST/IGST refunds disclosed in Clause 16(b) of Form 3CD are not taxable merely because of that reporting disclosure. Where GST liability and input tax credit are recorded through balance-sheet ledgers, the tax was not charged to the profit and loss account, and no deduction was claimed, the refund represents a return of tax previously paid rather than income. Under the Real Income principle, no taxable gain arises from repayment of an amount that did not yield an earlier tax deduction. Processing or rectification cannot therefore sustain an adjustment or addition for such GST/IGST refunds. en-us Fri, 25 Sep 2026 00:00:00 +0530 Tue, 06 Oct 2026 08:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800406 GST/IGST refunds disclosed in Clause 16(b) of Form 3CD are not taxable merely because of that reporting disclosure. Where GST liability and input tax credit are recorded through balance-sheet ledgers, the tax was not charged to the profit and loss account, and no deduction was claimed, the refund represents a return of tax previously paid rather than income. Under the Real Income principle, no taxable gain arises from repayment of an amount that did not yield an earlier tax deduction. Processing or rectification cannot therefore sustain an adjustment or addition for such GST/IGST refunds. Case-Laws Income Tax Fri, 25 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800406