https://www.taxtmi.com/caselaws?id=168764 For tax purposes, the text explains that prior assessment on a cash basis was not supported where the books and surrounding entries showed the assessee maintained accounts in which commission and remuneration were recorded, and isolated cash drawings did not establish a cash system. It also states that managing agents' commission accrued in the relevant accounting year once the right to receive it arose under the agency arrangement, even though payment was deferred and the amount was placed in suspense. Under the mercantile system, later withholding, dispute, or postponement of payment does not prevent accrual when the income has already arisen. en-us Tue, 01 Apr 1975 00:00:00 +0530 Thu, 07 Jan 2016 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168764 For tax purposes, the text explains that prior assessment on a cash basis was not supported where the books and surrounding entries showed the assessee maintained accounts in which commission and remuneration were recorded, and isolated cash drawings did not establish a cash system. It also states that managing agents' commission accrued in the relevant accounting year once the right to receive it arose under the agency arrangement, even though payment was deferred and the amount was placed in suspense. Under the mercantile system, later withholding, dispute, or postponement of payment does not prevent accrual when the income has already arisen. Case-Laws Income Tax Tue, 01 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168764