https://www.taxtmi.com/caselaws?id=168528 Income accrued only under the modified contractual right, because the assessee's original commission entitlement was validly varied during the accounting year by supplemental agreement and accepted resolution. The enforceable right to the higher percentage commission was displaced before it vested, and the decisive event was the directors' determination of the reduced remuneration. On that basis, tax could be levied only on income actually accrued under the revised arrangement, not on hypothetical income under the superseded agreement. The disputed sum therefore did not form taxable income in the assessee's hands. en-us Wed, 14 Sep 1955 00:00:00 +0530 Wed, 11 Mar 2015 12:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168528 Income accrued only under the modified contractual right, because the assessee's original commission entitlement was validly varied during the accounting year by supplemental agreement and accepted resolution. The enforceable right to the higher percentage commission was displaced before it vested, and the decisive event was the directors' determination of the reduced remuneration. On that basis, tax could be levied only on income actually accrued under the revised arrangement, not on hypothetical income under the superseded agreement. The disputed sum therefore did not form taxable income in the assessee's hands. Case-Laws Income Tax Wed, 14 Sep 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168528