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of <h1>High Court rules on accrual basis vs. receipt basis tax assessment</h1> The High Court of Madras declined to answer questions referred by the Appellate Tribunal on the deletion of Rs. 54,996 in the 1965-66 assessment year. The ... Income The High Court of Madras declined to answer the questions referred by the Appellate Tribunal regarding the correctness of the deletion of Rs. 54,996 in the assessment year 1965-66. The court held that the assessment of income on an accrual basis does not lead to double taxation, even if the method of assessment has changed from receipt basis in earlier years.
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