No Cessation of liability if Amount forfeited is subject matter of civil suit and cannot be taxed

Bharat Enterprises Vs ACIT (ITAT Mumbai) I find that the facts of the case indicate that the assessee had claimed as other income, a sum of Rs.19,87,500/- received from a buyer who had booked the flat. Further, since there was irregular payment from the buyer, the assessee had forfeited the sum of Rs.19,87,500/- and offered the same as income. However, in the meanwhile, the said person had filed a suit. There is no doubt about the existence of the suit. In the remand report, the Assessing Officer has also submitted that the said person has categorically claimed that he has not acquiesced in th...