https://www.taxtmi.com/caselaws?id=18071 The court ruled in favor of the assessee regarding the date of accrual of compensation, determining it to be the date of the High Court's decision. However, the assessee was denied classification as an industrial company as its construction activities did not align with manufacturing processes. The court sided with the Revenue on the assessment completion date, finding it not time-barred. The received amount was classified as a revenue receipt due to its nature as compensation for contract termination in the ordinary course of business. en-us Tue, 06 Aug 1996 00:00:00 +0530 Sat, 26 Sep 2009 15:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18071 The court ruled in favor of the assessee regarding the date of accrual of compensation, determining it to be the date of the High Court's decision. However, the assessee was denied classification as an industrial company as its construction activities did not align with manufacturing processes. The court sided with the Revenue on the assessment completion date, finding it not time-barred. The received amount was classified as a revenue receipt due to its nature as compensation for contract termination in the ordinary course of business. Case-Laws Income Tax Tue, 06 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18071