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2010 (3) TMI 806 - AT - Income TaxAccrual of Interest income - Deep Discount Bond - AO observed that interest accrues year after year and not accrue all of a sudden at the time of redemption/maturity. - Held that the assessees are entitled to recognize the interest income attributable to 8 per cent Reserve Bank of India Bonds on cash basis to be reckoned at the time of redemption of the Bonds - Decided in favour of assessee.
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