2019 (6) TMI 482

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....OR COUNSEL FOR SRI GANGADHAR J.M. ADVOCATE)   RESPONDENTS (BY SRI Y.V. RAVIRAJ, ADVOCATE)   G. NARENDAR J., JUDGMENT Heard the learned senior counsel Sri Seshachala along with Sri G.M. Gangadhar learned counsel for the appellant and Sri Y.V. Raviraj, Senior standing counsel for the Revenue in detail. 2. The substantial question of law that arises for consideration is: ....

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....case of Commissioner of Income Tax Vs. Ghanshyam [(2009) 315 ITR 1 (SC)], wherein the Hon'ble Apex Court was pleased to lay down the law that the computation of income sought to be made on receipt basis. 4. It is not in dispute that under the amended provision of sub-section 37 of section 10 of the Income Tax Act the income in the case of an assessee, being an individual or a Hindu undivided fa....