https://www.taxtmi.com/caselaws?id=49220 Outstanding professional fees received after discontinuance of a profession by an assessee on the cash basis retained their character as professional income. The Supreme Court majority held that the heads of income are mutually exclusive, so income traceable to a specific source cannot be shifted to the residuary head merely because it is not brought to tax under the corresponding computing provision in the year of receipt. The decisive question was the true character of the receipt, not the timing of receipt. As the amounts were fruits of professional activity, they were not taxable as income from other sources. en-us Wed, 04 May 1966 00:00:00 +0530 Sat, 16 Aug 2014 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49220 Outstanding professional fees received after discontinuance of a profession by an assessee on the cash basis retained their character as professional income. The Supreme Court majority held that the heads of income are mutually exclusive, so income traceable to a specific source cannot be shifted to the residuary head merely because it is not brought to tax under the corresponding computing provision in the year of receipt. The decisive question was the true character of the receipt, not the timing of receipt. As the amounts were fruits of professional activity, they were not taxable as income from other sources. Case-Laws Income Tax Wed, 04 May 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49220