2013 (7) TMI 914

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....order of the learned Tribunal, dt.18.5.2012, in relation to assessment year 2001-02 and is sought to be admitted on the following suggested questions of law.     1. "Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in deleting the addition of Rs. 84,06,80,727/- being the receipts on sale of electricity energy to A.P. TRANSCO not admitted by....

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....tration. Merely because the assessee has raised a bill for recovery of certain amount, it does not partake the character of 'income'. If the amount is disputed and the same is pending adjudication in arbitration, there is no crystallization and quantification of the amount due and payable by the debtor. Unless the debtor accepts the amount due and paid, the question of accrual of income ev....