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2012 (12) TMI 1215 - ITAT BANGALORE
Extract:
.......liability has not crystallized as that it is not tax paid by the assessee. As rightly observed by the CIT(A), the assessee will show the refund as income in the year of receipt but the tax is allowable only in the year of payment. 30. In view of the same, the Revenue’s appeal is dismissed. Order pronounced in the open court on 21st Dec, 2012.