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2018 (12) TMI 989 - HC - Income TaxAccrual of income - consideration accrued in the assessment year - Held that:- Admittedly, a part of the consideration received by the assessee was offered to tax for the assessment year 2013-14, the assessee filed their return of income and the tax had been paid. In our considered view, the issues raised in these appeals have become academic, since the question is as to in which year, the assessee is required to be taxed. The Revenue does not dispute that in the subsequent assessment year namely 2013-14, the assessee offered necessary consideration received and paid tax thereon. Therefore, the Revenue is not deprived of collection of appropriate rate of tax. Hence, we may not be required to adjudicate the matter and decide the substantial questions of law raised, as the issues raised in this appeal have become academic.
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