https://www.taxtmi.com/caselaws?id=339889 The Court upheld the Tribunal's decision to delete the addition of Rs. 5,78,28,058 as the carbon receipts were not realized or transferred during the relevant year, making them hypothetical income and not taxable. The legal principle that income accrues when it becomes due and is accompanied by a corresponding liability was crucial in determining the taxability of the carbon receipts, leading to the dismissal of the Tax Appeal. en-us Thu, 02 Mar 2017 00:00:00 +0530 Thu, 09 Mar 2017 08:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339889 The Court upheld the Tribunal's decision to delete the addition of Rs. 5,78,28,058 as the carbon receipts were not realized or transferred during the relevant year, making them hypothetical income and not taxable. The legal principle that income accrues when it becomes due and is accompanied by a corresponding liability was crucial in determining the taxability of the carbon receipts, leading to the dismissal of the Tax Appeal. Case-Laws Income Tax Thu, 02 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339889