https://www.taxtmi.com/caselaws?id=456319 The ITAT PUNE held that Rs. 20 crores could not be taxed in the assessment year under consideration as the assessee had not acquired the right to receive the amount during that year. The assessee had offered this amount to tax in subsequent years, and the Revenue failed to controvert this submission. The tribunal found that taxing the same amount in both the current year and subsequent years would constitute double taxation. The Revenue also failed to demonstrate that the MOU entered into by the assessee was an afterthought for tax avoidance purposes. en-us Thu, 09 Feb 2017 00:00:00 +0530 Tue, 16 Jul 2024 21:04:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456319 The ITAT PUNE held that Rs. 20 crores could not be taxed in the assessment year under consideration as the assessee had not acquired the right to receive the amount during that year. The assessee had offered this amount to tax in subsequent years, and the Revenue failed to controvert this submission. The tribunal found that taxing the same amount in both the current year and subsequent years would constitute double taxation. The Revenue also failed to demonstrate that the MOU entered into by the assessee was an afterthought for tax avoidance purposes. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456319