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2008 (11) TMI 217 - HC - Income TaxInterest Accrued but not due – ITAT hold that that a sum of Rs. 7,93,423 being the interest accrued but not due should not be included in the taxable income of the assessee - mercantile system of accounting – held that - The Assessing Officer accepted the method of accounting followed by the assessee during the earlier assessment years, but, without any change in circumstance, changed the method of assessment during the financial years in question, which, in our considered opinion, is unsustainable - appeals are dismissed answering the substantial question of law raised against the Revenue and in favour of the assessee
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