https://www.taxtmi.com/caselaws?id=216713 Interest income embedded in the difference between debenture purchase price and redemption value may be taxed on a spread-over or amortization basis where that method better reflects real income and accords with the matching principle, rather than being taxed entirely on accrual in the year of allotment. On the peculiar facts, the Court held that recomputation would serve no practical purpose and restored the Tribunal's view, so the assessee succeeded and the High Court order was set aside. en-us Thu, 13 Sep 2012 00:00:00 +0530 Tue, 18 Sep 2012 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216713 Interest income embedded in the difference between debenture purchase price and redemption value may be taxed on a spread-over or amortization basis where that method better reflects real income and accords with the matching principle, rather than being taxed entirely on accrual in the year of allotment. On the peculiar facts, the Court held that recomputation would serve no practical purpose and restored the Tribunal's view, so the assessee succeeded and the High Court order was set aside. Case-Laws Income Tax Thu, 13 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216713