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2015 (7) TMI 410 - HC - Income TaxAccrual of income - amount received under an interim order - Whether the Tribunal was justified in law in allowing the appeal of the assessee by deleting the entire addition of the amount received by virtue of an interim order of the Court and is not accrued to the assessee - Held that:- What has happened in Karnataka High Court decision in the case of CIT v/s Mysore Sugar Co. Ltd. [1989 (11) TMI 33 - KARNATAKA High Court] is that the assessee was permitted to collect the amount in question only pursuant to an interim order made by the court which was subject to several conditions to make the right absolute. Therefore, the collection made by the assessee at an enhanced rate at that stage was an inchoate one as this extra amount did not accrue to the assessee until the finalisation of the dispute pending before the Court. In fact, this is also the view taken by the Supreme Court in CIT v/s Hindustan Housing & Land Development Trust Ltd.[1986 (7) TMI 10 - SUPREME Court ]. - Decided against the revenue.
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