https://www.taxtmi.com/caselaws?id=252904 The Court ruled in favor of the assessee, emphasizing that income should only be considered accrued and taxable when it becomes due and payable, as per the provisions of the Income Tax Act. The Court found no inconsistency between the amended provisions of Sections 145 and 5 of the Act and directed the Assessing Authority to reassess the interest on Government securities accordingly. en-us Wed, 12 Sep 2012 00:00:00 +0530 Thu, 06 Nov 2014 22:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252904 The Court ruled in favor of the assessee, emphasizing that income should only be considered accrued and taxable when it becomes due and payable, as per the provisions of the Income Tax Act. The Court found no inconsistency between the amended provisions of Sections 145 and 5 of the Act and directed the Assessing Authority to reassess the interest on Government securities accordingly. Case-Laws Income Tax Wed, 12 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252904