https://www.taxtmi.com/caselaws?id=276672 Income accrues for tax purposes only when the assessee acquires a vested right to receive it and a corresponding debt arises in favour of the payer. Here, the assessee had only a contractual entitlement to the original rates during the relevant previous year; no enforceable right to enhanced payment existed until the reviewing authority sanctioned the additional amount. Because that sanction came later and the sum was paid only after the close of the year, the additional amount could not be treated as having arisen or accrued in the assessment year 1946-47. It was therefore not assessable in that year. en-us Fri, 13 May 1960 00:00:00 +0530 Thu, 15 Nov 2018 16:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276672 Income accrues for tax purposes only when the assessee acquires a vested right to receive it and a corresponding debt arises in favour of the payer. Here, the assessee had only a contractual entitlement to the original rates during the relevant previous year; no enforceable right to enhanced payment existed until the reviewing authority sanctioned the additional amount. Because that sanction came later and the sum was paid only after the close of the year, the additional amount could not be treated as having arisen or accrued in the assessment year 1946-47. It was therefore not assessable in that year. Case-Laws Income Tax Fri, 13 May 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276672