Central India Electric Supply Co. vs Commissioner Of Income-Tax

The Supreme Court upheld the High Court's decision affirming the Appellate Tribunal's findings regarding income accrual under Section 41(2) and the reopening of assessment under Section 147(a) of the Income-tax Act. The Court concluded that the parameters for reopening the assessment were satisfied and that income had indeed accrued to the assessee in the assessment year 1970-71. Consequently, the appeal was dismissed with costs.