https://www.taxtmi.com/caselaws?id=58995 The Tribunal dismissed the departmental appeal regarding the assessment of the assessee for the year 1973-74, finding that the firm had discontinued its business and the income did not arise from the business. The Tribunal held that the income accrued when the City Civil Court passed the decree and not in the relevant assessment year. Additionally, the Tribunal determined that the income should align with the method of accounting regularly employed by the assessee. Consequently, the Tribunal concluded that no referable question of law arose from its order, as the decisions were based on factual analysis and relevant material. en-us Fri, 20 Oct 1978 00:00:00 +0530 Thu, 23 Dec 2010 14:34:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58995 The Tribunal dismissed the departmental appeal regarding the assessment of the assessee for the year 1973-74, finding that the firm had discontinued its business and the income did not arise from the business. The Tribunal held that the income accrued when the City Civil Court passed the decree and not in the relevant assessment year. Additionally, the Tribunal determined that the income should align with the method of accounting regularly employed by the assessee. Consequently, the Tribunal concluded that no referable question of law arose from its order, as the decisions were based on factual analysis and relevant material. Case-Laws Income Tax Fri, 20 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58995