https://www.taxtmi.com/caselaws?id=19573 The High Court of Bombay ruled in favor of the assessees, determining that the lease rent from properties should not be taxed on an accrual basis. The court upheld the Tribunal's decision, considering the pending proceedings for standard rent fixation that jeopardized the right to receive the lease money. Since the assessees did not maintain proper accounts or use the mercantile accounting system, the Income-tax Department could not enforce accrual basis taxation. Legal precedents supported this decision, emphasizing that disputed income in court proceedings cannot be taxed on an accrual basis. en-us Wed, 15 Jan 1992 00:00:00 +0530 Sat, 07 Nov 2009 11:18:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19573 The High Court of Bombay ruled in favor of the assessees, determining that the lease rent from properties should not be taxed on an accrual basis. The court upheld the Tribunal's decision, considering the pending proceedings for standard rent fixation that jeopardized the right to receive the lease money. Since the assessees did not maintain proper accounts or use the mercantile accounting system, the Income-tax Department could not enforce accrual basis taxation. Legal precedents supported this decision, emphasizing that disputed income in court proceedings cannot be taxed on an accrual basis. Case-Laws Income Tax Wed, 15 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19573