https://www.taxtmi.com/caselaws?id=49365 The Supreme Court allowed the appeal, setting aside the High Court's decision. It held that the amount of Rs. 12,447 should be included in the assessment for the year 1951-52. The Court emphasized that Indian income tax laws should be interpreted independently of English decisions and that income accrues when the assessee acquires a right to receive it. The High Court's reliance on English decisions was deemed inappropriate, and the Supreme Court reiterated the need to interpret the Indian Income-tax Act based on its own terms. en-us Thu, 16 Apr 1964 00:00:00 +0530 Sat, 23 Aug 2014 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49365 The Supreme Court allowed the appeal, setting aside the High Court's decision. It held that the amount of Rs. 12,447 should be included in the assessment for the year 1951-52. The Court emphasized that Indian income tax laws should be interpreted independently of English decisions and that income accrues when the assessee acquires a right to receive it. The High Court's reliance on English decisions was deemed inappropriate, and the Supreme Court reiterated the need to interpret the Indian Income-tax Act based on its own terms. Case-Laws Income Tax Thu, 16 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49365