Accrual of income - Interest accrual as liable to tax - ...

Court Examines Tax Liability of Interest Accrual Under Income Tax Act Section 10(23BBA); No Proof of Income Diversion Found.

February 26, 2020

Case Laws Income Tax HC

Accrual of income - Interest accrual as liable to tax - exemption u/s 10 (23BBA) - The argument that there is no such stipulation in the letter releasing the grant does not lead to the automatic conclusion that the interest is income of the Assessee. It is not the case of the appellant that the books of the Assessee ever revealed the diversion of any interest income. - HC

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Accrual of income - Interest accrual as liable to tax - ...

Court Examines Tax Liability of Interest Accrual Under Income Tax Act Section 10(23BBA); No Proof of Income Diversion Found.

February 26, 2020

Case Laws Income Tax HC

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