https://www.taxtmi.com/caselaws?id=758391 The Tribunal allowed the appeal, reversing the decision of the Commissioner of Income Tax (Appeals) and deleting the addition of INR 69,84,169 made by the Assessing Officer. It concluded that the assessee correctly followed the accrual basis of accounting, recognizing income systematically over the grant period. The unspent grant was appropriately carried forward as a liability, justifying the exclusion of the disputed amount from the appellant's income for the assessment year 2021-22. The Tribunal's decision was pronounced on 29th August 2024. en-us Thu, 29 Aug 2024 00:00:00 +0530 Fri, 13 Sep 2024 08:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758391 The Tribunal allowed the appeal, reversing the decision of the Commissioner of Income Tax (Appeals) and deleting the addition of INR 69,84,169 made by the Assessing Officer. It concluded that the assessee correctly followed the accrual basis of accounting, recognizing income systematically over the grant period. The unspent grant was appropriately carried forward as a liability, justifying the exclusion of the disputed amount from the appellant's income for the assessment year 2021-22. The Tribunal's decision was pronounced on 29th August 2024. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758391