https://www.taxtmi.com/caselaws?id=178055 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the addition of long term capital gains based on deferred consideration. It ruled that the notional deferred consideration, which was not guaranteed to be received by the assessee, should not be taxed as it was not actual income received or accrued. The Tribunal emphasized that only gains received or accrued should be subject to capital gains tax, distinguishing the deferred portion as not constituting full value consideration. Consequently, the Tribunal dismissed the Revenue's appeal, affirming that the notional deferred consideration is not taxable under the Income Tax Act. en-us Wed, 10 Jul 2013 00:00:00 +0530 Wed, 01 Mar 2017 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178055 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the addition of long term capital gains based on deferred consideration. It ruled that the notional deferred consideration, which was not guaranteed to be received by the assessee, should not be taxed as it was not actual income received or accrued. The Tribunal emphasized that only gains received or accrued should be subject to capital gains tax, distinguishing the deferred portion as not constituting full value consideration. Consequently, the Tribunal dismissed the Revenue's appeal, affirming that the notional deferred consideration is not taxable under the Income Tax Act. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178055