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2019 (7) TMI 1740 - HC - Income TaxAccrual of income - Addition being interest accrued on non-performing assets, even though the assessee is following a mercantile system of accounting - Whether the assessee is entitled to follow a hybrid system of accounting by showing the interest on non-performing assets only on receipt basis, while otherwise following a mercantile system of accounting contrary to the provisions of Section 145 of the Income Tax Act? - HELD THAT:- Following the ratio laid down by the Hon'ble Supreme Court in Vasisth Chay Vyapar Ltd. [2018 (3) TMI 56 - SUPREME COURT] substantial questions of law are decided in favour of the appellant – assessee.
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