https://www.taxtmi.com/caselaws?id=28659 The Appellate Tribunal overturned the decision of the Appellate Assistant Commissioner and Income Tax Officer, ruling that no income accrued to the assessee during the relevant year due to pending rent disputes with the Government of West Bengal. The Court emphasized that as the right to receive compensation was in dispute and no perfected debt existed, the assessee could not be assessed based on the mercantile system of accounting. The judgment highlights the importance of resolving income accrual disputes and the necessity of a crystallized debt for income to be deemed accrued under the mercantile system. en-us Mon, 05 Jul 1982 00:00:00 +0530 Wed, 24 Feb 2010 15:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28659 The Appellate Tribunal overturned the decision of the Appellate Assistant Commissioner and Income Tax Officer, ruling that no income accrued to the assessee during the relevant year due to pending rent disputes with the Government of West Bengal. The Court emphasized that as the right to receive compensation was in dispute and no perfected debt existed, the assessee could not be assessed based on the mercantile system of accounting. The judgment highlights the importance of resolving income accrual disputes and the necessity of a crystallized debt for income to be deemed accrued under the mercantile system. Case-Laws Income Tax Mon, 05 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28659