https://www.taxtmi.com/caselaws?id=178060 The Tribunal ruled in favor of the assessee, holding that Section 68 of the Income Tax Act requires an actual receipt of money during the relevant accounting year. As no amount was received from BJW in the year under consideration and the transaction occurred in the previous financial year, the addition made by the AO was deemed unjustified and was consequently deleted. en-us Fri, 09 Jul 2010 00:00:00 +0530 Wed, 27 Jan 2016 17:36:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178060 The Tribunal ruled in favor of the assessee, holding that Section 68 of the Income Tax Act requires an actual receipt of money during the relevant accounting year. As no amount was received from BJW in the year under consideration and the transaction occurred in the previous financial year, the addition made by the AO was deemed unjustified and was consequently deleted. Case-Laws Income Tax Fri, 09 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178060