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2019 (9) TMI 655 - AT - Income TaxAccrual of income - year of assessment - cash seized at airport - HELD THAT:- Findings noted by the ld. CIT(A) that the disputed amount has been earned during the assessment year 2013-2014, therefore, it would be taxed in the assessment year 2013-2014. Accordingly, we do not find any substance in the submissions of assessee that this amount is included in ₹ 20 lakhs. The amount has been earned by the assessee during the impugned assessment year, therefore, taxability on the same amount cannot be carried forwarded in the subsequent year. The income has been defined as per Section 2(24) of the Act. Tax should be charged in the relevant assessment year in which it has been received or deemed to be received/accrues or arises or is deemed to accrue or arise/accrues or arises to the assessee at the rate in force in that assessment year. Ld. AR of the assessee has also not disputed that this income has been earned during the impugned assessment year, therefore, in view of the above, ld. CIT(A) has rightly decided the issue. - Decided against assessee
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