Court Rules Rent Arrears Are Taxable Only in Year Received, Not When Due; Assessee Wins Mesne Profits Case.

Court Rules Rent Arrears Are Taxable Only in Year Received, Not When Due; Assessee Wins Mesne Profits Case. https://www.taxtmi.com/highlights?id=5142 Reopening of assessment - the arrears of rent received by the assessee (as mesne profits) could not be brought to tax for the previous years, when they fell due. They could be brought to tax only during the year of receipt - HC en-us Wed, 05 Sep 2012 20:39:56 +0530 Wed, 05 Sep 2012 20:39:56 +0530 TaxTMI RSS Generator Court Rules Rent Arrears Are Taxable Only in Year Received, Not When Due; Assessee Wins Mesne Profits Case. https://www.taxtmi.com/highlights?id=5142 Reopening of assessment - the arrears of rent received by the assessee (as mesne profits) could not be brought to tax for the previous years, when they fell due. They could be brought to tax only during the year of receipt - HC Highlights Income Tax Wed, 05 Sep 2012 20:39:56 +0530 https://www.taxtmi.com/highlights?id=5142