https://www.taxtmi.com/caselaws?id=338180 The Tribunal held that no addition was necessary for revenue recognition of the premium received on allotment of plots, as the premium covered multiple years and should be accounted for based on the lease period. The High Court agreed with the Tribunal's findings, dismissing the appeal. Regarding the addition of depreciation in assessment under section 11(1) of the Income Tax Act, the Tribunal's decision to delete the depreciation amount was challenged in the appeal, which the High Court admitted for consideration of the substantial question of law. en-us Mon, 16 Jan 2017 00:00:00 +0530 Fri, 27 Jan 2017 08:59:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338180 The Tribunal held that no addition was necessary for revenue recognition of the premium received on allotment of plots, as the premium covered multiple years and should be accounted for based on the lease period. The High Court agreed with the Tribunal's findings, dismissing the appeal. Regarding the addition of depreciation in assessment under section 11(1) of the Income Tax Act, the Tribunal's decision to delete the depreciation amount was challenged in the appeal, which the High Court admitted for consideration of the substantial question of law. Case-Laws Income Tax Mon, 16 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338180