https://www.taxtmi.com/caselaws?id=264742 The Tribunal upheld the Assessing Officer's decision to tax the entire receipts from the sale of film rights in both assessment years 2007-08 and 2011-12. The appellant's attempts to defer or spread out the income over multiple years were rejected, emphasizing that income should be taxed in the year of receipt based on the nature of income received, regardless of categorizations like "pre-received income." The Tribunal's decisions were guided by legal provisions and precedents that prioritize the actual timing and nature of income over artificial attempts to manipulate income recognition for tax benefits. en-us Fri, 31 Jul 2015 00:00:00 +0530 Thu, 01 Oct 2015 11:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264742 The Tribunal upheld the Assessing Officer's decision to tax the entire receipts from the sale of film rights in both assessment years 2007-08 and 2011-12. The appellant's attempts to defer or spread out the income over multiple years were rejected, emphasizing that income should be taxed in the year of receipt based on the nature of income received, regardless of categorizations like "pre-received income." The Tribunal's decisions were guided by legal provisions and precedents that prioritize the actual timing and nature of income over artificial attempts to manipulate income recognition for tax benefits. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264742