https://www.taxtmi.com/caselaws?id=252119 The High Court dismissed the appeals concerning the interpretation of section 28(iv) of the Income-tax Act, 1961. It was held that the benefit derived by the respondents from the difference in share prices did not accrue to them as income for taxation purposes. The Court emphasized the distinction between the accrual and arising of income, ruling that taxation should only apply when income has actually arisen, not merely accrued. Consequently, the appeals were dismissed for lack of substantial questions of law. en-us Wed, 18 Jun 2014 00:00:00 +0530 Thu, 19 Feb 2015 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252119 The High Court dismissed the appeals concerning the interpretation of section 28(iv) of the Income-tax Act, 1961. It was held that the benefit derived by the respondents from the difference in share prices did not accrue to them as income for taxation purposes. The Court emphasized the distinction between the accrual and arising of income, ruling that taxation should only apply when income has actually arisen, not merely accrued. Consequently, the appeals were dismissed for lack of substantial questions of law. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252119