Selling Discounted Future Interest Portfolios: Income Deemed Accrued Upon Agreement Date.

Accrual of income - it has to be admitted that future interest cannot be taken as income. However, when assessee bundles it and sells it as a portfolio for a discount, the amount did accrue and received on the date of entering agreement.- AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X