https://www.taxtmi.com/caselaws?id=76853 The court dismissed the Revenue's appeal against the Tribunal's judgment for the assessment year 1998-99. The court upheld the Tribunal's decision based on the real income principle, emphasizing that tax liability should be based on actual income accrual. The court ruled against the Revenue regarding the insurance premium payment liability and remanded matters related to salary expenses and payment to directors' spouses for further examination. Ultimately, the court found the appeal lacking merit and dismissed it after detailed analysis of the issues and application of legal principles. en-us Thu, 17 Jan 2008 00:00:00 +0530 Fri, 16 Sep 2011 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76853 The court dismissed the Revenue's appeal against the Tribunal's judgment for the assessment year 1998-99. The court upheld the Tribunal's decision based on the real income principle, emphasizing that tax liability should be based on actual income accrual. The court ruled against the Revenue regarding the insurance premium payment liability and remanded matters related to salary expenses and payment to directors' spouses for further examination. Ultimately, the court found the appeal lacking merit and dismissed it after detailed analysis of the issues and application of legal principles. Case-Laws Income Tax Thu, 17 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76853