https://www.taxtmi.com/caselaws?id=60328 The Tribunal held that the refund amount of Rs. 12,01,757 received from the Central Excise Department should not be taxed under Section 41(1) of the Income-tax Act for the assessment year 1991-92. The Tribunal overturned the decisions of the Assessing Officer and the Commissioner of Income-tax (Appeals), ruling in favor of the assessee. The refund was deemed not taxable due to the pending appeal and lack of finality in the matter, leading to the deletion of the addition to the assessee's income. en-us Mon, 28 Apr 1997 00:00:00 +0530 Tue, 04 Jan 2011 16:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60328 The Tribunal held that the refund amount of Rs. 12,01,757 received from the Central Excise Department should not be taxed under Section 41(1) of the Income-tax Act for the assessment year 1991-92. The Tribunal overturned the decisions of the Assessing Officer and the Commissioner of Income-tax (Appeals), ruling in favor of the assessee. The refund was deemed not taxable due to the pending appeal and lack of finality in the matter, leading to the deletion of the addition to the assessee's income. Case-Laws Income Tax Mon, 28 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60328