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1982 (5) TMI 33 - HC - Income TaxExtract: .......whether the accounts are mentioned on mercantile or cash basis has no bearing on the question of assessability of the interest income under s. 28 of the Act. We agree with a similar view expressed by the Allahabad High Court and the Mysore High Court in Virendra Singh s case 1979 118 ITR 923 and Sampangiramaiah s case 1968 69 ITR 159, respectively.
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