https://www.taxtmi.com/caselaws?id=276372 Income credited in the cloth business books was not treated as income of that business merely because it was placed in a suspense account. An undisclosed source remained distinct from the known cloth business, so the entry reflected only disposal of income after it arose and did not show accounts being kept for that source. A different previous year could be adopted only if separate accounts for that source were made up for a different period and the assessee had exercised the relevant option; neither condition was shown on the facts. The amount was therefore not assessable on the cloth business previous-year basis. en-us Wed, 23 Mar 1960 00:00:00 +0530 Thu, 08 Nov 2018 14:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276372 Income credited in the cloth business books was not treated as income of that business merely because it was placed in a suspense account. An undisclosed source remained distinct from the known cloth business, so the entry reflected only disposal of income after it arose and did not show accounts being kept for that source. A different previous year could be adopted only if separate accounts for that source were made up for a different period and the assessee had exercised the relevant option; neither condition was shown on the facts. The amount was therefore not assessable on the cloth business previous-year basis. Case-Laws Income Tax Wed, 23 Mar 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276372