https://www.taxtmi.com/caselaws?id=69081 The Tribunal held that the interest income of Rs. 1,83,31,363 earned on share application money deposited in banks was not assessable for the assessment year 1992-93. The interest income accrued only after the statutory requirements for the allotment of shares were fulfilled in the financial year 1992-93. Consequently, the appeal by the assessee was allowed, and the assessment order dated 10-1-1996 was set aside. en-us Tue, 21 Jan 1997 00:00:00 +0530 Tue, 05 Apr 2011 10:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69081 The Tribunal held that the interest income of Rs. 1,83,31,363 earned on share application money deposited in banks was not assessable for the assessment year 1992-93. The interest income accrued only after the statutory requirements for the allotment of shares were fulfilled in the financial year 1992-93. Consequently, the appeal by the assessee was allowed, and the assessment order dated 10-1-1996 was set aside. Case-Laws Income Tax Tue, 21 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69081