https://www.taxtmi.com/caselaws?id=63632 The Tribunal partially allowed the appeal, holding that the Department could tax Rs. 28,697.55 out of the Rs. 75,000 addition made by the ITO. It concluded that interest income under the decree should be taxed upon realization, not on an accrual basis, due to the appellant's failure to declare accrued interest annually. The decision highlighted the significance of legal principles, factual circumstances, and taxpayer conduct in determining tax treatment, particularly in cases involving property valuation and interest accrual under decrees. en-us Thu, 26 Mar 1981 00:00:00 +0530 Tue, 01 Feb 2011 11:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63632 The Tribunal partially allowed the appeal, holding that the Department could tax Rs. 28,697.55 out of the Rs. 75,000 addition made by the ITO. It concluded that interest income under the decree should be taxed upon realization, not on an accrual basis, due to the appellant's failure to declare accrued interest annually. The decision highlighted the significance of legal principles, factual circumstances, and taxpayer conduct in determining tax treatment, particularly in cases involving property valuation and interest accrual under decrees. Case-Laws Income Tax Thu, 26 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63632