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2005 (1) TMI 62 - PUNJAB AND HARYANA HIGH COURTInterest income accrued on FDRs – accrual of income - "Whether, Tribunal has erred in law in confirming the deletion of the impugned addition of Rs. 10,79,858 on account of interest income accrued on FDRs of the assessee even when the said interest income was free from all encumbrances and was liable to be taxed as per the provisions of the Income-tax Act, 1961?" - interest amounting to Rs. 10,79,858 on the FDRs has already accrued and there was no lien or encumbrance created on this amount of interest. Moreover, the bank in the present case has also not provided any guarantee to the extent of interest accrued and thus there is no liability on the bank to deposit this amount - held that the Tribunal had erred in law in confirming the deletion of the impugned addition
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