https://www.taxtmi.com/caselaws?id=253834 The High Court upheld the Tribunal's decisions in both issues, dismissing the appeal of the appellant. The court emphasized that income cannot be considered accrued unless there is a real right to receive payment, and the mere accounting entry does not establish income accrual. Additionally, it was held that no disallowance under section 14A can be made without a finding that borrowed funds were used to earn exempt income. As there was no substantial question of law raised, the appeal was summarily dismissed. en-us Tue, 16 Sep 2014 00:00:00 +0530 Fri, 05 Dec 2014 12:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253834 The High Court upheld the Tribunal's decisions in both issues, dismissing the appeal of the appellant. The court emphasized that income cannot be considered accrued unless there is a real right to receive payment, and the mere accounting entry does not establish income accrual. Additionally, it was held that no disallowance under section 14A can be made without a finding that borrowed funds were used to earn exempt income. As there was no substantial question of law raised, the appeal was summarily dismissed. Case-Laws Income Tax Tue, 16 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253834