https://www.taxtmi.com/caselaws?id=59086 The Appellate Tribunal ITAT BOMBAY-E dismissed the appeal regarding the taxability of a reward received by the assessee from the Customs Department. The Tribunal held that the exemption under section 10(17B) of the Income-tax Act, 1961 could only be claimed upon the issuance of an order by the Central Government approving the award, which in this case was not issued with retrospective effect. The Tribunal emphasized the importance of the effective date of the order in determining eligibility for exemption, ultimately upholding the decision of the lower authorities and ruling that the reward received was taxable. en-us Sat, 23 Oct 1982 00:00:00 +0530 Thu, 23 Dec 2010 18:27:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59086 The Appellate Tribunal ITAT BOMBAY-E dismissed the appeal regarding the taxability of a reward received by the assessee from the Customs Department. The Tribunal held that the exemption under section 10(17B) of the Income-tax Act, 1961 could only be claimed upon the issuance of an order by the Central Government approving the award, which in this case was not issued with retrospective effect. The Tribunal emphasized the importance of the effective date of the order in determining eligibility for exemption, ultimately upholding the decision of the lower authorities and ruling that the reward received was taxable. Case-Laws Income Tax Sat, 23 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59086