Grant Taxation Must Align with Correct Fiscal Year, Says Assessing Officer for 2016-17.

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....Addition to the total income on account of deferred grant - It is settled principle of law that an amount cannot be taxed in the hands of the assessee if it does not partake the character of income. In the present case, the amount of grant was offered for tax in the year 2016-17. - AO directed to verify and tax the impugned amount in correct Assessment Year. - AT....