https://www.taxtmi.com/caselaws?id=277347 For business income under the Indian Income-tax Act, 1922, the assessee's own regularly employed method of accounting is decisive under Section 13, and accounts maintained by managing agents alone do not prove a cash basis. Income is chargeable when it accrues or arises, so managing agency commission and remuneration that had been earned and had become due were taxable even though not actually drawn and one amount was placed in suspense. A claim to exemption for sums said to relate to work done in Indian States failed where the commission was earned and payable at Madura and no part arose or accrued in an Indian State. The discussed decision therefore treated the amounts as taxable business profits and rejected the exemption claim. en-us Sun, 02 Apr 1950 00:00:00 +0530 Sat, 01 Dec 2018 14:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277347 For business income under the Indian Income-tax Act, 1922, the assessee's own regularly employed method of accounting is decisive under Section 13, and accounts maintained by managing agents alone do not prove a cash basis. Income is chargeable when it accrues or arises, so managing agency commission and remuneration that had been earned and had become due were taxable even though not actually drawn and one amount was placed in suspense. A claim to exemption for sums said to relate to work done in Indian States failed where the commission was earned and payable at Madura and no part arose or accrued in an Indian State. The discussed decision therefore treated the amounts as taxable business profits and rejected the exemption claim. Case-Laws Income Tax Sun, 02 Apr 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277347