https://www.taxtmi.com/caselaws?id=330841 The High Court held that disputed income is not exigible to tax if it has not accrued to the assessee. Emphasizing the principle that income accrues when it becomes due and is accompanied by a corresponding liability to pay, the Court ruled in favor of the assessee. As the disputed income did not create a corresponding liability for payment by the other party, it was not taxable. The Court overturned the Tribunal's decision and disposed of the appeal in favor of the assessee without costs. en-us Fri, 01 Jul 2016 00:00:00 +0530 Sat, 06 Aug 2016 13:51:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330841 The High Court held that disputed income is not exigible to tax if it has not accrued to the assessee. Emphasizing the principle that income accrues when it becomes due and is accompanied by a corresponding liability to pay, the Court ruled in favor of the assessee. As the disputed income did not create a corresponding liability for payment by the other party, it was not taxable. The Court overturned the Tribunal's decision and disposed of the appeal in favor of the assessee without costs. Case-Laws Income Tax Fri, 01 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330841