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2011 (7) TMI 1212 - ITAT DELHIExtract: .......ound refundable subsequently, the same is liable to be taxed u/s 41(1) in the year of refund. Accordingly, it is held that the assessee is entitled to deduct this amount in computing the income. 9. In result, the appeal of the revenue is dismissed and cross objection of the assessee is allowed. This order was pronounced in open court on 22.07.2011.
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