1994 (1) TMI 79 - HC - Income Tax

Summary

The High Court of Madras declined to answer the questions referred by the Appellate Tribunal regarding the correctness of the deletion of Rs. 54,996 in the assessment year 1965-66. The court held that the assessment of income on an accrual basis does not lead to double taxation, even if the method of assessment has changed from receipt basis in earlier years.