https://www.taxtmi.com/caselaws?id=236524 The ITAT Chennai upheld the additions made by the Assessing Officer regarding the accrual of interest on debts outstanding for more than 90 days. The tribunal ruled that interest accrual should be considered as income until the loans are written off as bad debts, based on past decisions and the mercantile system of accounting. Additionally, the ITAT Chennai confirmed the disallowance of software expenses as capital in nature, with the assessee failing to provide any new evidence to challenge past tribunal decisions. The judgment was pronounced on July 5, 2013, in Chennai. en-us Fri, 05 Jul 2013 00:00:00 +0530 Fri, 30 Aug 2013 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236524 The ITAT Chennai upheld the additions made by the Assessing Officer regarding the accrual of interest on debts outstanding for more than 90 days. The tribunal ruled that interest accrual should be considered as income until the loans are written off as bad debts, based on past decisions and the mercantile system of accounting. Additionally, the ITAT Chennai confirmed the disallowance of software expenses as capital in nature, with the assessee failing to provide any new evidence to challenge past tribunal decisions. The judgment was pronounced on July 5, 2013, in Chennai. Case-Laws Income Tax Fri, 05 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236524