https://www.taxtmi.com/caselaws?id=62339 The appeal filed by the Revenue was dismissed, and the CIT(A)'s deletion of the addition related to the chargeability of interest on an advance of Rs. 124 lakhs was upheld. The Tribunal held that interest had accrued and could not be wiped out later by a resolution. Additionally, it was concluded that no income accrued to the assessee as there was no enforceable right to receive interest due to unsettled terms and conditions of the advance. en-us Fri, 14 Aug 2009 00:00:00 +0530 Wed, 19 Jan 2011 13:37:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62339 The appeal filed by the Revenue was dismissed, and the CIT(A)'s deletion of the addition related to the chargeability of interest on an advance of Rs. 124 lakhs was upheld. The Tribunal held that interest had accrued and could not be wiped out later by a resolution. Additionally, it was concluded that no income accrued to the assessee as there was no enforceable right to receive interest due to unsettled terms and conditions of the advance. Case-Laws Income Tax Fri, 14 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62339