https://www.taxtmi.com/caselaws?id=189225 Money credited by a lessee into the assessee's bank account as royalty was treated as receipt by the assessee for income-tax purposes, even though it was entered in a suspense account and the quantum was disputed. The court reasoned that the amount had been paid pursuant to the existing arrangement, came under the assessee's control, and was mixed with other credited sums; the bank was not the true recipient in the legal sense relevant to assessment. The pending dispute with the lessee about whether additional royalty was payable did not affect the taxability of the amount already received. The sum was therefore assessable as income. en-us Sat, 21 Mar 1942 00:00:00 +0630 Mon, 02 Jan 2017 12:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189225 Money credited by a lessee into the assessee's bank account as royalty was treated as receipt by the assessee for income-tax purposes, even though it was entered in a suspense account and the quantum was disputed. The court reasoned that the amount had been paid pursuant to the existing arrangement, came under the assessee's control, and was mixed with other credited sums; the bank was not the true recipient in the legal sense relevant to assessment. The pending dispute with the lessee about whether additional royalty was payable did not affect the taxability of the amount already received. The sum was therefore assessable as income. Case-Laws Income Tax Sat, 21 Mar 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=189225