https://www.taxtmi.com/caselaws?id=70990 The Tribunal held that interest received under Section 132B(4) of the Income Tax Act should be assessed on an accrual basis. The interest income was classified as 'income from other sources' due to the cessation of business activities. The Tribunal allowed deductions for expenses related to the interest income, directing the AO to recompute the income accordingly. The assessee's appeals were partly allowed, subject to these directions. en-us Fri, 24 Feb 1995 00:00:00 +0530 Wed, 20 Apr 2011 15:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70990 The Tribunal held that interest received under Section 132B(4) of the Income Tax Act should be assessed on an accrual basis. The interest income was classified as 'income from other sources' due to the cessation of business activities. The Tribunal allowed deductions for expenses related to the interest income, directing the AO to recompute the income accordingly. The assessee's appeals were partly allowed, subject to these directions. Case-Laws Income Tax Fri, 24 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70990