2007 (5) TMI 647

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....61 (for short as 'Act') against the order dated 5th September, 2005 passed by Income Tax Appellate Tribunal (in short as 'Tribunal') in ITA No.1260/Del/2002 for the assessment year 1994-95. Vide impugned order, the Tribunal allowed deduction of Rs. 3,58,563/- under Section 36(1)(vii) of the Act on account of export incentives which became irrecoverable during the year under cons....

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.... support of the claim. The Commissioner of Income Tax (Appeal) allowed the claim of the Assessee under Section 36(1)(vii) of the Act. 5. Further, the Assessee had to recover a sum of Rs. 5,64,928/- from its associate concern M/s. Ovil. Since the Assessee had to execute certain export orders, it made a request to the said concern to give payment of Rs. 20 lakhs. The request of the Assessee was a....