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2004 (7) TMI 309 - AT - Income Tax
Extract:
.......raised by the assessee, by applying the same reasoning as we have adopted as to the time of accrual of income, in the case of interest on N.P.As. The assessee may claim the expenditure as and when the expenditure crystallises as per the method of accounting regularly employed by him. 38. In the result, the appeal of the assessee is allowed in part.