https://www.taxtmi.com/caselaws?id=159511 The HC ruled in favor of the payer company, permitting the full interest deduction in the payment year, and determined that the entire interest income was taxable for the individual assessee in the receipt year. The Tribunal's orders were set aside, emphasizing adherence to debenture contract terms and proper application of the Income-tax Act sections. en-us Thu, 21 Apr 2005 00:00:00 +0530 Fri, 17 May 2024 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159511 The HC ruled in favor of the payer company, permitting the full interest deduction in the payment year, and determined that the entire interest income was taxable for the individual assessee in the receipt year. The Tribunal's orders were set aside, emphasizing adherence to debenture contract terms and proper application of the Income-tax Act sections. Case-Laws Income Tax Thu, 21 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159511