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1994 (5) TMI 2 - SUPREME COURT
Held that the interest which had accrued on the sticky advance has to be treated as income of the assessee and as such taxable. We would add that if ultimately it is established by the assessee that the advance has taken the shape of a bad debt, refund of the tax paid on the interest would become due and the same can be claimed by the assessee in accordance with law.
