https://www.taxtmi.com/caselaws?id=65420 The Tribunal upheld the assessment treating the receipt of Rs. 2.85 crores as a revenue receipt taxable in the year of accrual. The assessee's argument that it was a capital receipt for compensation was rejected, as it did not lose the right to conduct business elsewhere. The income was deemed assessable in the year it was received due to ongoing disputes, confirming the AO's decision. The Tribunal dismissed the assessee's appeal and allowed the Revenue's appeal. en-us Fri, 16 Oct 2009 00:00:00 +0530 Wed, 05 Jun 2013 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65420 The Tribunal upheld the assessment treating the receipt of Rs. 2.85 crores as a revenue receipt taxable in the year of accrual. The assessee's argument that it was a capital receipt for compensation was rejected, as it did not lose the right to conduct business elsewhere. The income was deemed assessable in the year it was received due to ongoing disputes, confirming the AO's decision. The Tribunal dismissed the assessee's appeal and allowed the Revenue's appeal. Case-Laws Income Tax Fri, 16 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65420