method of accounting judiciary-2

Chargeability of interest income to tax when same is only technically accrued

Brahamputra Capital & Financial Services Ltd. Vs ITO (ITAT Delhi)

8. We have carefully deliberated on the rival contentions raised by the learned AR and DR. The controversy here revolves around chargeability of interest income to the tax which even though technically accrued as per the mercantile-system of accounting being followed by the assessee, but the same was not accounted for as income in view of...

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