1993 (1) TMI 4

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...., at the instance of the Revenue, referred the following question under section 256(1) of the Income-tax Act, 1961 (for short, " the Act ") : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the right to receive the transport charges relatable to the assessment year 1978-79 would be assessed only in the year in which the dispute was finally se....

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....em of accounting, did not include the amount covered by the supplementary bill in its account for the relevant year and submitted the return accordingly. The Income-tax Officer accepted the return and passed an order of assessment. The Commissioner, invoking his power under section 263 of the Act, cancelled the assessment order taking the view that the amount of the supplementary bill accrued duri....

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....It was found that the amount was shown in the return of the year in which the amount was received. The Tribunal held that the amount was not liable to be included in the total income of the assessee for the assessment year 1978-79. Copies of the agreement between the assessee and the Army Purchase Organisation, the supplementary bill, the award, the civil court judgment and the High Court judgm....