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2004 (8) TMI 81 - ALLAHABAD HIGH COURTAccrual of income - "Whether, Tribunal was justified in law in holding that the amount of Rs. 1,00,298 had not accrued to the assessee and could not be taxed as its income for the AY 1975-76?" - we find that in terms of the interim order passed by the apex court in the case of K.C.P. Ltd. (where a sugar mill had challenged the fixation of levy price of sugar by the Government of India.), the assessee was required to deposit the entire amount of excess price with the district magistrate in a bank account specifically opened for that purpose and the pass book had to be pledged with the district magistrate - The assessee had no right to the amount so realised and was the subject matter of the final orders which may be passed by the apex court. Thus, the amount did not accrue to the assessee and, therefore, it cannot be treated as a trading receipt for the assessment year in question.
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