https://www.taxtmi.com/caselaws?id=290317 The Tribunal partially allowed the appeal of the State Transport Corporation, upholding the validity of deductions towards the Pension Fund Trust under section 36(1)(iv). It directed a reevaluation of the treatment of reimbursement of free passes under the mercantile system of accounting, emphasizing that income recognition depended on the crystallization of income, whether upon issuance or approval of claims. The Assessing Officer was instructed to further examine the issue and make decisions in accordance with the law. en-us Fri, 22 Aug 2014 00:00:00 +0530 Sat, 19 Sep 2020 16:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290317 The Tribunal partially allowed the appeal of the State Transport Corporation, upholding the validity of deductions towards the Pension Fund Trust under section 36(1)(iv). It directed a reevaluation of the treatment of reimbursement of free passes under the mercantile system of accounting, emphasizing that income recognition depended on the crystallization of income, whether upon issuance or approval of claims. The Assessing Officer was instructed to further examine the issue and make decisions in accordance with the law. Case-Laws Income Tax Fri, 22 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290317