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2004 (9) TMI 39 - HC - Income TaxIncome – accrual - "Whether the Tribunal was right in law in holding that interest amounting to Rs. 6,63,275 accrued to the assessee during the previous year relevant to the assessment year 1992-93 was includible in its total income?" - it is very clear that it was only in view of the order made by the court that the amount was permitted to be withdrawn and that too on the furnishing of a bank guarantee of a nationalised bank and the appellant was required to refund the amount with interest to the respondent in case the respondent succeeded. Therefore, the determinative date would be the date on which the decision was rendered by the court and it is for that relevant year that the income-tax will have to be assessed as it can be said that the amount accrued on that date only – Question is answered in favour of the assessee
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