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Taxing amount based on presumption of future order of Small Causes Court unsustainable
Case Law Details
- Case Name
- T.V. Patel Pvt. Ltd. Vs DCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1988-89
- Courts
- All High Courts, Bombay High Court
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T.V. Patel Pvt. Ltd. Vs DCIT (Bombay High Court)
Bombay High Court held that one cannot tax the amount having not accrued and not been received by the assessee on an assumption and presumption that in the future, the Small Causes Court will at least order the said sum in favour of the Appellant.
Facts-
The Appellant, the lessees of Neville Wadia Pvt. Ltd. entered into an Agreement with Bombay Builders to construct a building at Cumballa Hill and sell 30 flats to the Appellant at an agreed price. On 22nd April 1980, by a Tripartite Agreement, Bombay Builders as confirming party was substituted ...
Author Info
