2018 (8) TMI 120 - SCH - Income Tax

Business income Vs. Other sources - Deduction u/s 36(1)(viii) - Whether income from non-performing assets should be assessed on cash basis and not on mercantile basis despite the assessee maintaining mercantile system of accounting - method of accounting - Held that - No reason to entertain this Special Leave Petition, which is, accordingly, dismissed. However, the question of law is kept open.

Summary

The Supreme Court of India dismissed the Special Leave Petition, condoning the delay. The question of law remains open, and any pending interlocutory applications are disposed of.