https://www.taxtmi.com/caselaws?id=26938 The High Court ruled in favor of the assessee, holding that the interest income of Rs. 21,912 earned by the receivers through unauthorized investments could not be included in the assessee's total income for assessment. The Court emphasized that income accrual depends on actual realization, not just accounting methods, and since the assessee did not physically or legally receive the income, it was not liable for tax on that amount. The decision was affirmed with no costs awarded. Judge R. N. Pyne concurred with the judgment. en-us Wed, 21 Nov 1984 00:00:00 +0530 Tue, 09 Feb 2010 15:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26938 The High Court ruled in favor of the assessee, holding that the interest income of Rs. 21,912 earned by the receivers through unauthorized investments could not be included in the assessee's total income for assessment. The Court emphasized that income accrual depends on actual realization, not just accounting methods, and since the assessee did not physically or legally receive the income, it was not liable for tax on that amount. The decision was affirmed with no costs awarded. Judge R. N. Pyne concurred with the judgment. Case-Laws Income Tax Wed, 21 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26938