https://www.taxtmi.com/caselaws?id=27858 The case involved a dispute over the timing of profit accrual from the transfer of an import license. The Tribunal found that the profit accrued in the assessment year 1969-70 as the transferee firm utilized the license within that period. The Tribunal's decision was upheld as a factual finding, emphasizing the importance of actual utilization of the license in determining tax liability. The judgment clarified the assessment of profit from the transfer of an import license, highlighting the significance of factual circumstances in tax assessments. The Revenue's petition was declined without costs. en-us Wed, 01 Feb 1984 00:00:00 +0530 Tue, 16 Feb 2010 14:07:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27858 The case involved a dispute over the timing of profit accrual from the transfer of an import license. The Tribunal found that the profit accrued in the assessment year 1969-70 as the transferee firm utilized the license within that period. The Tribunal's decision was upheld as a factual finding, emphasizing the importance of actual utilization of the license in determining tax liability. The judgment clarified the assessment of profit from the transfer of an import license, highlighting the significance of factual circumstances in tax assessments. The Revenue's petition was declined without costs. Case-Laws Income Tax Wed, 01 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27858