https://www.taxtmi.com/caselaws?id=382043 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition under section 56(2)(viib) of the Income Tax Act. The Tribunal affirmed that the provision should be applied based on the year of receipt of consideration, not allotment. Additionally, the Tribunal upheld the deletion of the addition under section 40(a)(ia) for the violation of section 194C, as the expenses were found to be reimbursements not subject to TDS. The decision was rendered on 19.06.2019. en-us Wed, 19 Jun 2019 00:00:00 +0530 Mon, 24 Jun 2019 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382043 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition under section 56(2)(viib) of the Income Tax Act. The Tribunal affirmed that the provision should be applied based on the year of receipt of consideration, not allotment. Additionally, the Tribunal upheld the deletion of the addition under section 40(a)(ia) for the violation of section 194C, as the expenses were found to be reimbursements not subject to TDS. The decision was rendered on 19.06.2019. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382043