https://www.taxtmi.com/caselaws?id=5087 For section 23A of the Indian Income-tax Act, 1922, distributable profits are computed by including income that has accrued by the close of the relevant previous year, even where the exact amount is determined later. The scheme of section 2(11) recognises that different sources of income may have different previous years, and those periods must be read together in computing total income. On that basis, a partner's share from a separate source was held to accrue when the partnership accounting period closed, so it was properly brought into assessable and distributable profits for the assessment year in question. The order under section 23A was therefore valid in favour of Revenue. en-us Tue, 09 Jan 1968 00:00:00 +0530 Wed, 19 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5087 For section 23A of the Indian Income-tax Act, 1922, distributable profits are computed by including income that has accrued by the close of the relevant previous year, even where the exact amount is determined later. The scheme of section 2(11) recognises that different sources of income may have different previous years, and those periods must be read together in computing total income. On that basis, a partner's share from a separate source was held to accrue when the partnership accounting period closed, so it was properly brought into assessable and distributable profits for the assessment year in question. The order under section 23A was therefore valid in favour of Revenue. Case-Laws Income Tax Tue, 09 Jan 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5087