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TMI Blog2014 (9) TMI 762X X X X Extracts X X X X X X X X Extracts X X X X ..... hich accrues or arises or is deemed to accrue or arise to him in India during such year – Held that:- The finding of the FAA and the Tribunal is based on the system of accounting of the Assessee - If, it was cash system of accounting and it was the consistent method followed and not objected to, then, the question referred cannot be termed as question of law - It is a finding of fact and which can ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sources derived which accrues or arises or is deemed to accrue or arise to him in India during such year? 2] There is no dispute about the facts inasmuch as in the assessment year 1989-90, the only source of income, the Assessee has not shown is the interest on fixed deposit with M/s. Karnataka Ball Bearings Corporation Ltd. It was informed by letter dated 2nd December, 1987 that the interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , it cannot be shown as income. The said finding has been upheld by the Tribunal. The Tribunal followed its own order dated 12th February, 1993 in the case of this very Assessee and relateable to assessment year 1988-89. The Appeal of the Revenue was dismissed and the finding of the Commissioner was, thus, upheld by the Tribunal. 4] Upon hearing both sides, we are of the opinion that the findin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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