https://www.taxtmi.com/caselaws?id=65052 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals), ruling that the lump sum received for the assignment of the right to use technology was taxable in the year of receipt. The Tribunal emphasized that income accrues when all obligations are fulfilled, regardless of accounting methods or standards. The assessee's argument that only the portion attributable to the current year should be taxed was rejected, and the entire amount was deemed taxable in the relevant year. The appeal by the assessee was dismissed. en-us Mon, 12 Nov 2001 00:00:00 +0530 Fri, 11 Feb 2011 18:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65052 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals), ruling that the lump sum received for the assignment of the right to use technology was taxable in the year of receipt. The Tribunal emphasized that income accrues when all obligations are fulfilled, regardless of accounting methods or standards. The assessee's argument that only the portion attributable to the current year should be taxed was rejected, and the entire amount was deemed taxable in the relevant year. The appeal by the assessee was dismissed. Case-Laws Income Tax Mon, 12 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65052