https://www.taxtmi.com/caselaws?id=169097 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer regarding amounts in suspense accounts and interest income. The Tribunal emphasized that these amounts were not income and should not be taxed unless proven otherwise. The decisions were supported by established precedents, RBI guidelines, and legal provisions, reinforcing the principle of recognizing income on a cash basis. The Tribunal dismissed the revenue's appeal, affirming that notional interest on unrealized amounts was inappropriate for taxation. en-us Thu, 31 Oct 2013 00:00:00 +0530 Mon, 06 Apr 2015 21:29:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169097 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer regarding amounts in suspense accounts and interest income. The Tribunal emphasized that these amounts were not income and should not be taxed unless proven otherwise. The decisions were supported by established precedents, RBI guidelines, and legal provisions, reinforcing the principle of recognizing income on a cash basis. The Tribunal dismissed the revenue's appeal, affirming that notional interest on unrealized amounts was inappropriate for taxation. Case-Laws Income Tax Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169097