https://www.taxtmi.com/caselaws?id=395620 The Tribunal concluded that the income of Rs. 5,40,00,000 did not accrue to the assessee as the conditions for accrual were not met. The amount received was treated as an advance, and the modified deed was not a colorable device for tax evasion. The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, finding no merit in the appeal. The appeal was dismissed, and the order was pronounced in accordance with procedural rules, considering the extraordinary circumstances due to the COVID-19 pandemic. en-us Wed, 27 May 2020 00:00:00 +0530 Sat, 30 May 2020 14:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395620 The Tribunal concluded that the income of Rs. 5,40,00,000 did not accrue to the assessee as the conditions for accrual were not met. The amount received was treated as an advance, and the modified deed was not a colorable device for tax evasion. The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, finding no merit in the appeal. The appeal was dismissed, and the order was pronounced in accordance with procedural rules, considering the extraordinary circumstances due to the COVID-19 pandemic. Case-Laws Income Tax Wed, 27 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395620