https://www.taxtmi.com/caselaws?id=327994 The Tribunal allowed the appeal, deleting the addition of Rs. 5,00,000 made on a notional basis for service fees, as no income had accrued before April 2008. The disallowance of business loss/expenses of Rs. 1,16,014 became moot following the deletion of the primary addition. The decision emphasized the principle that income should only be recognized when there is a right to receive it, in line with legal precedents. en-us Fri, 20 May 2016 00:00:00 +0530 Mon, 23 May 2016 22:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327994 The Tribunal allowed the appeal, deleting the addition of Rs. 5,00,000 made on a notional basis for service fees, as no income had accrued before April 2008. The disallowance of business loss/expenses of Rs. 1,16,014 became moot following the deletion of the primary addition. The decision emphasized the principle that income should only be recognized when there is a right to receive it, in line with legal precedents. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327994