https://www.taxtmi.com/caselaws?id=16189 The High Court ruled against the Revenue, holding that retrospective rent enhancement does not constitute assessable income for the relevant year under Section 23(1) of the Income-tax Act, 1961. The court emphasized that income must be accrued or received to be taxable, and mere claims or demands do not meet this criteria. The decision favored the assessee, emphasizing the importance of certainty in income assessment, particularly concerning retrospective claims. en-us Wed, 07 Apr 1999 00:00:00 +0530 Tue, 01 Sep 2009 16:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16189 The High Court ruled against the Revenue, holding that retrospective rent enhancement does not constitute assessable income for the relevant year under Section 23(1) of the Income-tax Act, 1961. The court emphasized that income must be accrued or received to be taxable, and mere claims or demands do not meet this criteria. The decision favored the assessee, emphasizing the importance of certainty in income assessment, particularly concerning retrospective claims. Case-Laws Income Tax Wed, 07 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16189