Income Tax Act, 1961
Section 7. INCOME DEEMED TO BE RECEIVED.
The following incomes shall be deemed to be received in the previous year :- (i) The annual accretion in the previous year to the balance at the credit of an employee participating in a recognised provident fund, to the extent provided in rule 6 of Part A of the Fourth Schedule;
(ii) The transferred balance in a recognised provident fund, to the extent provided in sub-rule (4) of rule 11 of Part A of the Fourth Schedule.
TUTICORIN VEGETABLE MARKETING CO. (P) LTD. v. INCOME-TAX OFFICER & ANR.