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Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

Whether the Tribuanl was right in holding that the income from ...


High Court Upholds Tribunal Decision: Income from Non-Performing Assets to be Assessed on Cash Basis, Not Mercantile Basis.

October 30, 2014

Case Laws     Income Tax     HC

Whether the Tribuanl was right in holding that the income from non-performing assets should be assessed on cash basis and not on mercantile basis despite the assesee maintain mercantile system of accounting - held Yes - HC

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