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TMI Blog1934 (11) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... erence by the Income tax Commissioner at the instance of an assessee, a Hindu undivided family. The two questions referred are:- (1) Whether the unrealised decree of ₹ 23,269 against Talatuf Husain and others entered in the interest Khata is taxable I Ncome for the purpose of income-tax, while in fact the amount has not been received at all, and whether the assessment of the appli- cants is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r as an amount which was to be realized. It is not disputed that no part of the amount was realised during the year in question. The claim for the Department is that the books should be used for accounting and assessment in accordance with Section 13 of the Indian Income Tax Act. In other words, the proposition is that, although none of the decretal amount was received the assessee should be charg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chitnavis; in the matter of Raghu- nadan Prasad Singh and Narain Das Bhagwan Das v. Commis- sioner of Income Tax. Reference was made for the assessee to Raghunandan Prasad Singh v. Commissioner of Income Tax ; but we do not consider that this case has any bearing on the point. Learned counsel for the Commissioner referred to Section 4 of the Income Tax Act, which states that "the Act shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is nothing in the Act to show that this ordinary meaning is not attached to the word. "Income" is not actually defined in the Act, but in Section 2 (15) "Total income" is stated to mean the "total amount of income, profits and gains from all sources to which this Act applies computed in the manner laid down in Section 16". There is nothing in this definition or in Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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