No addition of IGST Refund reported in Clause 16(b) of Form 3CD (Tax Audit Report) as same was not taxable u/s 43B

Ecoenergy Insights Limited Vs ACIT (ITAT Delhi) Conclusion: IGST refund on export of services was not claimed as expenditure in P&L and couldn’t be treated as income merely because it was disclosed in Form 3CD. CIT(A) erred in treating the refund as hit by section 43B, since IGST on export of services was not a liability but only an advance refundable under GST law. Held: Assessee-company was traded in electric security equipment systems and filed its income return declaring NIL income after setting off unabsorbed depreciation. The case was processed under section 143(1), assessing t...