https://www.taxtmi.com/caselaws?id=218640 The tribunal ruled in favor of the assessee, a government-owned company, in a case concerning the addition of Rs.123.53 lakhs to its assessed income by the Assessing Officer. The addition was based on an advance loan given to another public sector undertaking, deemed as income from other sources. The tribunal emphasized the need for realizable income for accrual, dismissed the interest accrued on the loan, and directed the deletion of the addition, ultimately favoring the assessee in the appeal. en-us Tue, 27 Dec 2011 00:00:00 +0530 Thu, 22 Nov 2012 07:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218640 The tribunal ruled in favor of the assessee, a government-owned company, in a case concerning the addition of Rs.123.53 lakhs to its assessed income by the Assessing Officer. The addition was based on an advance loan given to another public sector undertaking, deemed as income from other sources. The tribunal emphasized the need for realizable income for accrual, dismissed the interest accrued on the loan, and directed the deletion of the addition, ultimately favoring the assessee in the appeal. Case-Laws Income Tax Tue, 27 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218640