https://www.taxtmi.com/caselaws?id=36828 Section 11(14) of the Finance Act, 1946 treated repayment of United Kingdom excess profits tax as income for Indian income-tax purposes and directed that it be taken as income of the previous year in which repayment was made. The provision operated as a charging rule, not merely a rule of classification, so the refund became assessable without any further fiction of accrual or receipt in India. Repeal of the Indian Income-tax Act, 1922 did not displace the charge, because section 8 of the General Clauses Act, 1897 preserved references to the repealed enactment as references to the re-enacted law unless a different intention appeared. The refund was therefore taxable in the assessee's assessable income. en-us Thu, 23 Feb 1978 00:00:00 +0530 Wed, 24 Mar 2010 17:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36828 Section 11(14) of the Finance Act, 1946 treated repayment of United Kingdom excess profits tax as income for Indian income-tax purposes and directed that it be taken as income of the previous year in which repayment was made. The provision operated as a charging rule, not merely a rule of classification, so the refund became assessable without any further fiction of accrual or receipt in India. Repeal of the Indian Income-tax Act, 1922 did not displace the charge, because section 8 of the General Clauses Act, 1897 preserved references to the repealed enactment as references to the re-enacted law unless a different intention appeared. The refund was therefore taxable in the assessee's assessable income. Case-Laws Income Tax Thu, 23 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36828