https://www.taxtmi.com/highlights?id=55425 Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was uncertainty with regard to recovery / collection of the outstanding amount, the assessee for the AY in question decided not to recognize revenue for wheeling charges - Income did not accrue to the assessee but was a hypothetical income, which could not have been subjected to tax and in view of Accounting Standard-9 - HC en-us Fri, 06 Nov 2020 10:12:12 +0530 Fri, 06 Nov 2020 10:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55425 Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was uncertainty with regard to recovery / collection of the outstanding amount, the assessee for the AY in question decided not to recognize revenue for wheeling charges - Income did not accrue to the assessee but was a hypothetical income, which could not have been subjected to tax and in view of Accounting Standard-9 - HC Highlights Income Tax Fri, 06 Nov 2020 10:12:12 +0530 https://www.taxtmi.com/highlights?id=55425