Supreme Court of India
Commissioner of Income-tax West Bengal-i, Calcutta v. United Provinces Electric Supply Company
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From the headnote
Income Tax Act, 1961-Section 41(2)-Business Profit-Ta:xability- Accrual of income-Balancing charge-Compulsory acquisition of business undertaking-Compensation received-Pendency of litigation in respect of an c amount or price due-Whether relevant so far as ta:xability of accrued income is concerned-Held, No-Additional income can be taxed at a subsequent stage. ;.. The respondent-assessee was carrying on the business of generating and supply of electricity to the consumers. The Government of Uttar Pradesh by exercising power under Section 6 of the Indian Electricity Act, 1910, purchased the
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