Arrears of rent received as mesne profits taxable in year of receipt & not in year of accrual

HIGH COURT OF DELHI Commissioner of Income-tax-VI Versus Uberoi Sons (Machines) Ltd. IT APPEAL NOS. 166, 168,243 & 778 OF 2006 AUGUST 31, 2012 ORDER S. Ravindra Bhat, J. The present appeals by the revenue are directed against a common order of the Income Tax Appellate Tribunal (ITAT) dated 5th April, 2005 in seven appeals (by the revenue) and cross objections preferred by the assessee. The following questions of law were framed for consideration of this Court: (i)  Whether the ITAT was, in the facts and circumstances of the case, correct in law in quashing the re-assessme...