https://www.taxtmi.com/caselaws?id=180613 Income does not accrue where disputed power-purchase receipts remain unaccepted, contested, and subject to arbitration, because Accounting Standard 9 recognises revenue only when realisation is reasonably certain; the disputed differential energy charges and tax reimbursement claims were therefore not taxable for the year and the related additions were deleted. Reassessment under section 147 cannot be sustained merely on a short deduction of tax at source on dividend payments, since TDS shortfall is addressed under the TDS machinery and does not by itself establish escapement of income; the reopening and consequential demand were accordingly invalid. en-us Fri, 18 May 2012 00:00:00 +0530 Wed, 30 Mar 2016 15:58:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180613 Income does not accrue where disputed power-purchase receipts remain unaccepted, contested, and subject to arbitration, because Accounting Standard 9 recognises revenue only when realisation is reasonably certain; the disputed differential energy charges and tax reimbursement claims were therefore not taxable for the year and the related additions were deleted. Reassessment under section 147 cannot be sustained merely on a short deduction of tax at source on dividend payments, since TDS shortfall is addressed under the TDS machinery and does not by itself establish escapement of income; the reopening and consequential demand were accordingly invalid. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180613