https://www.taxtmi.com/caselaws?id=39010 A trading receipt received as an enhanced sale price accrued in the earlier years when the goods were sold, and its tax character was fixed at the time of receipt under the mercantile system. Keeping the amount in a separate account, excluding it from the profit and loss account, or later distributing it among partners did not convert it into income of a later assessment year. The amount was therefore not assessable in assessment year 1955-56, and the tax question was answered in favour of the assessee. en-us Thu, 27 Feb 1975 00:00:00 +0530 Mon, 12 Apr 2010 10:15:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39010 A trading receipt received as an enhanced sale price accrued in the earlier years when the goods were sold, and its tax character was fixed at the time of receipt under the mercantile system. Keeping the amount in a separate account, excluding it from the profit and loss account, or later distributing it among partners did not convert it into income of a later assessment year. The amount was therefore not assessable in assessment year 1955-56, and the tax question was answered in favour of the assessee. Case-Laws Income Tax Thu, 27 Feb 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39010