https://www.taxtmi.com/caselaws?id=182262 The Tribunal justified deleting the addition of Rs. 63,37,320 as deferred receipt rather than accrued income due to a genuine modification of the agreement, leading to no accrual for the relevant year. The Court upheld the Tribunal's decision, emphasizing that income accrues when due and accompanied by a liability to pay, which was lacking in this case. The appeal was dismissed, supporting the Tribunal's deletion of the amount and acknowledging the cessation of filing returns from 1992-93, leaving the revenue authorities to take appropriate action under the Income-tax Act. en-us Fri, 03 Jul 2015 00:00:00 +0530 Fri, 06 May 2016 11:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182262 The Tribunal justified deleting the addition of Rs. 63,37,320 as deferred receipt rather than accrued income due to a genuine modification of the agreement, leading to no accrual for the relevant year. The Court upheld the Tribunal's decision, emphasizing that income accrues when due and accompanied by a liability to pay, which was lacking in this case. The appeal was dismissed, supporting the Tribunal's deletion of the amount and acknowledging the cessation of filing returns from 1992-93, leaving the revenue authorities to take appropriate action under the Income-tax Act. Case-Laws Income Tax Fri, 03 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182262