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1971 (8) TMI 4 - SC - Income Tax
Termaination of agency - maintaining accounts on mercantile system - compensation - assessee's right to get the compensation arose only in April, 1951. Therefore, the compensation was not taxable in 1956-57 - assessee had included the compensation in its income on tax basis in 1956-57 is immaterial. What was relevant was the method of accountancy - Revenue appeal is dismissed