https://www.taxtmi.com/caselaws?id=58155 The ITAT Bombay-A allowed the appeal, ruling in favor of the assessee and directing the exclusion of the disputed amounts totaling Rs. 50,146 from the assessee's income. The Tribunal found that unclaimed credit balances over 3 years and security deposits from ex-agents and miscellaneous credits did not constitute income under section 28(iv) of the IT Act, based on legal precedents and the nature of these transactions. The decision emphasized the need for realization before treating such amounts as income, ultimately resulting in the deletion of the contested sums from the assessee's income. en-us Sun, 04 Nov 1984 00:00:00 +0530 Fri, 17 Dec 2010 16:20:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58155 The ITAT Bombay-A allowed the appeal, ruling in favor of the assessee and directing the exclusion of the disputed amounts totaling Rs. 50,146 from the assessee's income. The Tribunal found that unclaimed credit balances over 3 years and security deposits from ex-agents and miscellaneous credits did not constitute income under section 28(iv) of the IT Act, based on legal precedents and the nature of these transactions. The decision emphasized the need for realization before treating such amounts as income, ultimately resulting in the deletion of the contested sums from the assessee's income. Case-Laws Income Tax Sun, 04 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58155