TMI Blog2015 (7) TMI 997X X X X Extracts X X X X X X X X Extracts X X X X ..... as to be taxed on the due basis - Held that:- Tribunal has allowed the assessee's appeal by placing reliance upon the decision of this Court in Commissioner of Income Tax v. Bank of Rajasthan Ltd., reported in (2010 (4) TMI 217 - BOMBAY HIGH COURT) as well as the Special Bench decision of the Tribunal in Deputy Commissioner of Income Tax v. Bank of Bahrain & Kuwait BSC [2011 (1) TMI 1206 - ITAT MU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- on the securities has to be taxed on the due basis only, instead of accrual basis as per the mercantile system of accounting followed by the assessee? 2. Whether on facts and circumstances of the case, the Hon. Tribunal was right in law, in accepting the plea of the assessee that the interest income on the securities has to be taxed on the due basis only without appreciating that the inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax v. Bank of Bahrain Kuwait BSC. The Special Bench's decision of the Tribunal was the subject matter of appeal by the revenue before this Court being Income Tax Appeal No.1738 of 2011. This Court by an order dated 5-2-2013 did not entertain the appeal as it was covered by the orders of this Court for earlier Assessment Years in respect of the Bank of Bahrain Kuwait BSC and the appea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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