https://www.taxtmi.com/caselaws?id=62902 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the addition of carrying charges receivable from Punjab Spinning & Weaving Mills Ltd. The disputed amount was not deemed to have accrued to the assessee due to the ongoing dispute, following precedents that income does not accrue until the right to receive it is settled. The Tribunal distinguished the case from State Bank of Travancore, emphasizing that income cannot be said to have accrued when the right to receive it is in dispute. en-us Tue, 08 Nov 1994 00:00:00 +0530 Sat, 22 Jan 2011 14:48:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62902 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the addition of carrying charges receivable from Punjab Spinning & Weaving Mills Ltd. The disputed amount was not deemed to have accrued to the assessee due to the ongoing dispute, following precedents that income does not accrue until the right to receive it is settled. The Tribunal distinguished the case from State Bank of Travancore, emphasizing that income cannot be said to have accrued when the right to receive it is in dispute. Case-Laws Income Tax Tue, 08 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62902