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lending banks of the company, on behalf of the Government of India / ECGC, in discharge of appellant's loan liability. 2. On facts ... under the head compensation from Government of India/ECGC TOTAL -Rs. 346,24,72,226/- 7 ITA Nos. 2199 & 2200/Del/2005

said policy was issued by the Export Credit Guarantee Corporation Ltd. (ECGC), a body set up by the Government of India under the Ministry ... dues beyond 120 days by Iraq was required to be indemnified by ECGC. Consequent to default by Iraq, the assessee along with other Indian contractors

M/S. Punjab National Bank, New Delhi vs Addl.Cit, New Delhi on 9 January

attention to page 2 of the paper book which indicates that the ECGC informed the assessee that out of total amount payable

books of accounts as bad debts and money was received from ECGC in subsequent years. The Assessing Officer held that since the income from export