Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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ITAT Deletes IGST Refund Addition Holding Refundable Advance Not Taxable u/s 43B
Income TaxOther Legal Matters
The ITAT has deleted an IGST refund addition, holding that a "refundable advance is not taxable under Section 43B." The tribunal's decision provides a significant victory for the taxpayer. The ruling clarifies that a refundable advance cannot be taxed as an income. The court's decision is a crucial reminder to all that they must be diligent in their dealings.
