https://www.taxtmi.com/caselaws?id=209292 The High Court dismissed the Revenue's appeal, affirming that the IPRS incentive did not accrue in the assessment year 1993-94 and was not taxable for that year. The Court held that the income accrued in the subsequent year when the claim was quantified and approved, following the mercantile system of accounting. The Court found no error in the Tribunal's decision and upheld the Commissioner of Income-tax (Appeals) order, stating that the IPRS incentive was not taxable for the year in question. en-us Tue, 23 Nov 2010 00:00:00 +0530 Wed, 24 Jul 2013 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209292 The High Court dismissed the Revenue's appeal, affirming that the IPRS incentive did not accrue in the assessment year 1993-94 and was not taxable for that year. The Court held that the income accrued in the subsequent year when the claim was quantified and approved, following the mercantile system of accounting. The Court found no error in the Tribunal's decision and upheld the Commissioner of Income-tax (Appeals) order, stating that the IPRS incentive was not taxable for the year in question. Case-Laws Income Tax Tue, 23 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209292