https://www.taxtmi.com/caselaws?id=249824 The Tribunal ruled in favor of the assessee in both appeals, finding that no penalty for not declaring liquidated damages for A.Y. 2003-04 or addition for interest on liquidated damages for A.Y. 2006-07 was justified. The decisions were based on detailed examinations in quantum proceedings, previous decisions, and explicit agreements between the parties, highlighting the significance of accurately assessing income accrual based on specific circumstances and agreements. en-us Tue, 17 Jun 2014 00:00:00 +0530 Fri, 25 Jul 2014 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249824 The Tribunal ruled in favor of the assessee in both appeals, finding that no penalty for not declaring liquidated damages for A.Y. 2003-04 or addition for interest on liquidated damages for A.Y. 2006-07 was justified. The decisions were based on detailed examinations in quantum proceedings, previous decisions, and explicit agreements between the parties, highlighting the significance of accurately assessing income accrual based on specific circumstances and agreements. Case-Laws Income Tax Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249824