https://www.taxtmi.com/caselaws?id=60385 The Appellate Tribunal held that the sum of Rs. 12,178 from receipts by an insurance company for damages to a bus should not be included in the assessment for the assessment year 1970-71. The Tribunal found that the right to receive compensation only accrued when the claim was cleared by the insurance company, and thus, the amount should be assessed in the following year. The Tribunal agreed with the assessee's argument and deleted the addition from the assessment for the year in question. en-us Tue, 08 Mar 1977 00:00:00 +0530 Wed, 05 Jan 2011 11:13:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60385 The Appellate Tribunal held that the sum of Rs. 12,178 from receipts by an insurance company for damages to a bus should not be included in the assessment for the assessment year 1970-71. The Tribunal found that the right to receive compensation only accrued when the claim was cleared by the insurance company, and thus, the amount should be assessed in the following year. The Tribunal agreed with the assessee's argument and deleted the addition from the assessment for the year in question. Case-Laws Income Tax Tue, 08 Mar 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60385