https://www.taxtmi.com/caselaws?id=328109 The Tribunal held that the advance interest received on IDBI bonds, spread over 36 months, did not constitute income as the assessee had no right to retain it. Consequently, the Tribunal upheld the CIT(Appeals) decision to delete the addition, making the assessment reopening unnecessary. Regarding the exemption under Section 54E of the Act for capital asset transfer, the Tribunal upheld the proportionate exemption based on the actual investment made by the assessee. Discrepancies in the computation of capital gains were resolved by the Tribunal, confirming the specific amount of capital gains. All appeals were dismissed, affirming the lower authorities' orders. en-us Fri, 22 Apr 2016 00:00:00 +0530 Thu, 26 May 2016 08:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328109 The Tribunal held that the advance interest received on IDBI bonds, spread over 36 months, did not constitute income as the assessee had no right to retain it. Consequently, the Tribunal upheld the CIT(Appeals) decision to delete the addition, making the assessment reopening unnecessary. Regarding the exemption under Section 54E of the Act for capital asset transfer, the Tribunal upheld the proportionate exemption based on the actual investment made by the assessee. Discrepancies in the computation of capital gains were resolved by the Tribunal, confirming the specific amount of capital gains. All appeals were dismissed, affirming the lower authorities' orders. Case-Laws Income Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328109