https://www.taxtmi.com/caselaws?id=24419 Under the mercantile system, commission accrued when the right to receive it arose, and the assessee's failure to credit the amount in its books did not prevent accrual. The Tribunal treated 25% of the monthly net realisations as accrued commission and found no factual basis for unrealisability of the amount advanced; the only point raised was non-appropriation in the relevant year. On that footing, no independent referable question of law arose from the refusal to direct a reference under section 256(2) of the Income-tax Act, 1961, and the refusal to state a case was justified. en-us Tue, 24 Jan 1989 00:00:00 +0530 Tue, 19 Jan 2010 18:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24419 Under the mercantile system, commission accrued when the right to receive it arose, and the assessee's failure to credit the amount in its books did not prevent accrual. The Tribunal treated 25% of the monthly net realisations as accrued commission and found no factual basis for unrealisability of the amount advanced; the only point raised was non-appropriation in the relevant year. On that footing, no independent referable question of law arose from the refusal to direct a reference under section 256(2) of the Income-tax Act, 1961, and the refusal to state a case was justified. Case-Laws Income Tax Tue, 24 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24419