Uncertain Receipts Can Be Taxed Only on Realisation: ITAT Deletes ₹16.61 Cr Addition

DCIT Vs Delhi Transco Ltd (ITAT Delhi) No Income Without Certainty – Uncertain Receipts Can Be Taxed Only on Realisation – Tribunal Deletes ₹16.61 Cr Addition Delhi Tribunal dealt with Revenue’s appeal against CIT(A)’s deletion of reassessment addition of ₹16.61 crores for A.Y. 2012-13 Assessee, a Govt. of NCT Delhi undertaking, filed return declaring nil income & book profit of ₹1005.33 crores u/s 115JB. Original assessment was completed u/s 143(3) on 23.03.2015. Subsequently, AO reopened assessment u/s 147 on 31.03.2019, alleging escapement of income of ₹16.61 crores bein...