https://www.taxtmi.com/caselaws?id=55666 The Tribunal allowed the appeal, directing the CIT (Appeals) to reassess the income accrual. It held that Section 176(3A) was inapplicable due to business succession, Section 28(iv) did not tax cash receipts, and the firm's dissolution was a tax avoidance device. Income assessment should follow accrual, not receipt basis. en-us Sun, 19 Jul 1992 00:00:00 +0530 Mon, 29 Nov 2010 13:09:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55666 The Tribunal allowed the appeal, directing the CIT (Appeals) to reassess the income accrual. It held that Section 176(3A) was inapplicable due to business succession, Section 28(iv) did not tax cash receipts, and the firm's dissolution was a tax avoidance device. Income assessment should follow accrual, not receipt basis. Case-Laws Income Tax Sun, 19 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55666