https://www.taxtmi.com/caselaws?id=21391 The High Court ruled against the assessee in question No. 2, favoring the Revenue by upholding the addition of Rs. 5,85,025.10 to the income. Additionally, in question No. 3, the High Court sided with the Revenue, finding the Tribunal's decision contrary to the Supreme Court's principles on income accrual under the mercantile system of accounting. The Court concluded that income should be assessed in the year it accrues, not when received, ordering the judgment's copy to be sent to the Agricultural Income-tax Appellate Tribunal. en-us Tue, 18 Feb 1992 00:00:00 +0530 Tue, 24 Nov 2009 10:55:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21391 The High Court ruled against the assessee in question No. 2, favoring the Revenue by upholding the addition of Rs. 5,85,025.10 to the income. Additionally, in question No. 3, the High Court sided with the Revenue, finding the Tribunal's decision contrary to the Supreme Court's principles on income accrual under the mercantile system of accounting. The Court concluded that income should be assessed in the year it accrues, not when received, ordering the judgment's copy to be sent to the Agricultural Income-tax Appellate Tribunal. Case-Laws Income Tax Tue, 18 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21391