https://www.taxtmi.com/caselaws?id=21375 The High Court ruled in favor of the assessee, stating that the amount received under protest did not constitute its income for the assessment year. The Court emphasized that not all receipts qualify as income and highlighted the importance of the right to receive income. As the assessee had no right to receive the amount and was disputing the liability, the Court held that the amount in question did not form part of the assessee's income. The Court's decision favored the assessee over the Revenue, clarifying that any allowance granted based on the Tribunal's direction should be withdrawn in light of the judgment. en-us Wed, 22 Jan 1992 00:00:00 +0530 Sat, 21 Nov 2009 18:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21375 The High Court ruled in favor of the assessee, stating that the amount received under protest did not constitute its income for the assessment year. The Court emphasized that not all receipts qualify as income and highlighted the importance of the right to receive income. As the assessee had no right to receive the amount and was disputing the liability, the Court held that the amount in question did not form part of the assessee's income. The Court's decision favored the assessee over the Revenue, clarifying that any allowance granted based on the Tribunal's direction should be withdrawn in light of the judgment. Case-Laws Income Tax Wed, 22 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21375