https://www.taxtmi.com/caselaws?id=68052 Discounted interest on IDBI Capital Bonds was considered in relation to the assessee's accounting method, with the dispute centred on whether the full interest of Rs. 47,000 was taxable on receipt or only the accrued portion for the relevant year. The assessee had invested land-sale proceeds in the bonds and claimed exemption under section 54E(1) of the Income-tax Act, 1961. The authorities below did not address the objections with a reasoned discussion, and the assessee's claim was accepted. The addition was not sustained. en-us Fri, 29 Jan 1993 00:00:00 +0530 Wed, 16 Mar 2011 16:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68052 Discounted interest on IDBI Capital Bonds was considered in relation to the assessee's accounting method, with the dispute centred on whether the full interest of Rs. 47,000 was taxable on receipt or only the accrued portion for the relevant year. The assessee had invested land-sale proceeds in the bonds and claimed exemption under section 54E(1) of the Income-tax Act, 1961. The authorities below did not address the objections with a reasoned discussion, and the assessee's claim was accepted. The addition was not sustained. Case-Laws Income Tax Fri, 29 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68052