https://www.taxtmi.com/caselaws?id=13052 The court considered the taxability of an amount retained by authorities under the mercantile system of accounting. The Tribunal ruled that the amount would be taxable only upon actual receipt by the assessee, rejecting the Revenue's argument for immediate taxation. The court emphasized the distinction between accounting systems and directed the Tribunal to refer the legal question on tax treatment to the court for its opinion. en-us Fri, 15 Dec 2000 00:00:00 +0530 Tue, 26 May 2009 11:24:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13052 The court considered the taxability of an amount retained by authorities under the mercantile system of accounting. The Tribunal ruled that the amount would be taxable only upon actual receipt by the assessee, rejecting the Revenue's argument for immediate taxation. The court emphasized the distinction between accounting systems and directed the Tribunal to refer the legal question on tax treatment to the court for its opinion. Case-Laws Income Tax Fri, 15 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13052