https://www.taxtmi.com/highlights?id=53508 Accrual of income - Since the stock-in-trade has only been contributed and has not been sold during the relevant AY, there is no receipt or accrual of business receipt during the relevant AY. - the authorities below indeed erred in bringing to tax the anticipated business profits on assessee’s entering into a development agreement (JDA) in respect of the land held by the assessee as stock in trade. en-us Wed, 27 May 2020 11:20:10 +0530 Wed, 27 May 2020 11:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53508 Accrual of income - Since the stock-in-trade has only been contributed and has not been sold during the relevant AY, there is no receipt or accrual of business receipt during the relevant AY. - the authorities below indeed erred in bringing to tax the anticipated business profits on assessee’s entering into a development agreement (JDA) in respect of the land held by the assessee as stock in trade. Highlights Income Tax Wed, 27 May 2020 11:20:10 +0530 https://www.taxtmi.com/highlights?id=53508