Supreme Court · 1964 INSC 123 · Decided 16 April 1964
The Commissioner of Income Tax, Madras v. A. Gajapathy Naidu
- Court
- Supreme Court of India
- Citation
- 1964 INSC 123 · [1964] 7 S.C.R. 767
- Case number
- CIVIL APPEAL No. 617/1963
- Decided
- 16 April 1964
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(1)
Headnote
Indian Incometax Act, 1922 (11 of 1922), s. 4(1)(b)(ii)­ Construction of-Analogy from English Statuaes-"Accrue" or "arise", meaning of-Income arising out of earlier :transaction­ Proper year of assessment. A certain sum of money was received by the assessee as payment the previous accounting year. The Income-tax Officer included the amount in the assessment year it was received. Appeals to the Appellate Assistant Commis­ sioner and to the Income-tax Tribunal were unsuccessful. But on a reference, the High Court held that though in fact the right to receive
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)