https://www.taxtmi.com/caselaws?id=173615 The High Court of Andhra Pradesh upheld the Tribunal's decision to delete the disputed income addition related to the sale of electricity energy to A.P. TRANSCO. The Court emphasized that income tax is levied on actual income, and if income is in dispute and not accepted by the debtor, it does not qualify as 'income' for the assessee. Therefore, the Court supported the deletion of the addition, citing the principle that tax liability arises only on actual income realization. The appeal challenging the deletion was dismissed, affirming the Tribunal's decision. en-us Tue, 23 Jul 2013 00:00:00 +0530 Fri, 18 Sep 2015 19:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173615 The High Court of Andhra Pradesh upheld the Tribunal's decision to delete the disputed income addition related to the sale of electricity energy to A.P. TRANSCO. The Court emphasized that income tax is levied on actual income, and if income is in dispute and not accepted by the debtor, it does not qualify as 'income' for the assessee. Therefore, the Court supported the deletion of the addition, citing the principle that tax liability arises only on actual income realization. The appeal challenging the deletion was dismissed, affirming the Tribunal's decision. Case-Laws Income Tax Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173615