Assessment of State Financial Corporation-Change in method of accounting of interest from mercantile to cash-Regarding

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..... er of Income-tax. Sir, Subject: Assessment of State Financial Corporation-Change in method of accounting of interest from mercantile to cash-Regarding The Supreme Court has in its judgment in the case of State Bank of Travancore v. CIT [1986] 158 ITR 102 held that the interest accruing on sticky loans is taxable to income-tax on accrual basis where the assessee follows the mercantile syst .....

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