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2017 (1) TMI 1588 - ITAT MUMBAIAddition u/s 41 - refund of entry tax receivable from the Government of Andhra Pradesh - taxability in a instant year - Held that:- The levy of income tax is on real income - the crediting of amount in the P&L account itself would not be conclusive to say that the corresponding income has accrued to the assessee, so as to be liable for taxation - hence we hereby direct that the lower authorities have erred in invoking the provisions of section 41 to include a sum of ₹ 2,07,80,623/- in the total income - Decided in favor of assessee. Taxation of royalty income received from its overseas subsidiary - Non taxability in India - DTAA between India and Egypt - Held that:- It is claim which involves a point of law with necessary facts being on record - in such a situation, even if, the claim has not been made at an earlier stage, income-tax authorities are entitled to admit such a claim - hence we deem it fit and proper to admit the claim of the assessee and restore it to the file of the AO for adjudication on merits after giving reasonable opportunity of being heard to the assessee - partly allowed in favor of assessee.
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