Interest on Non-Convertible Debenture- Shown in P&L A/c but offered for taxation on Maturity

Barring private equity partners (India) private limited Vs ACIT (ITAT Delhi) If the Assessee select the option to received Interest on Non-Convertible Debenture at maturity but showing yearly interest in P/L account but offered to tax at the Maturity then AO cannot raise objection. The assessee had subscribed to 7500 NCDs of Rs. 1,000/- each issued by Muthoot Finance Ltd.; that these NCDs have an interest obligation on the part of Muthoot; that theassessee is entitled to interest on these NCDs; and that the assessee has opted/chosen to receive interest on the maturity/redemption of these Deben...