Accrual of interest income - Merely because GSL Educational ...

GSL Educational Society's income calculation must follow the Income Tax Act and accounting rules, regardless of payment decisions.

November 13, 2019

Case Laws Income Tax AT

Accrual of interest income - Merely because GSL Educational Society decided not to make payment, accrued income cannot be reduced. The income has to be computed as per the provisions of the Act and as per which the amount accrued as per the system of accounting followed by the assessee required to be taxed.

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Accrual of interest income - Merely because GSL Educational ...

GSL Educational Society's income calculation must follow the Income Tax Act and accounting rules, regardless of payment decisions.

November 13, 2019

Case Laws Income Tax AT

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