Accrual of interest income - There is nothing on record to ...

Income Tax

October 27, 2016

Accrual of interest income - There is nothing on record to indicate that the borrower had refused to pay either the interest or return the loan. Therefore, on facts, there has been an accrual of interest and following the mercantile system of accounting, the same is real income, liable to tax. - HC

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Accrual of interest income - There is nothing on record to ...

Income Tax

October 27, 2016

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