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TMI Blog2014 (11) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... d in Commissioner of Income-tax, Patiala Versus Sriyansh Knitters (P.) Ltd. [2010 (10) TMI 638 - PUNJAB AND HARYANA HIGH COURT] It has been decided that before quantification based on verification, no income could be held to have accrued to the assessee - no income accrued till claim of the assessee was quantified and verified - assessee submits that the cash incentive and duty draw back, for AY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion in ITC No.184 of 1994 decided on 11.10.2010, which was dismissed by declining the prayer for a reference. The order dated 11.10.2010 reads as follows:- As regards question (i), view taken by the Tribunal cannot be held to be erroneous. The Tribunal, after examining the scheme for export incentive, found that before quantification based on verification, no income could be held to have accr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssioner of Income Tax vs. Manav Tolls (India) P. Ltd. At this stage, counsel for the assessee submits that the cash incentive and duty draw back, for assessment year 1983-84, was eventually adjusted in assessment year 1986-87, as set out in order dated 29.03.1988, passed by the Inspecting Assistant Commissioner of Income Tax, Ludhiana. In support of his assertion, counsel for the appellant has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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