1978 (1) TMI 29 - HC - Income Tax

Summary

The High Court of Madras ruled that a foreign pension received by a resident in India is taxable under the Income-tax Act, 1961. The court rejected the argument that the pension, accrued abroad and paid in foreign currency, should not be taxed. The court held that income must accrue before receipt, making the pension taxable. The court ruled in favor of the revenue, and the assessee was ordered to pay costs.