https://www.taxtmi.com/caselaws?id=5537 For assessment years 1969-70, 1970-71 and 1971-72 the SC allowed the taxpayer's appeals, holding that interest had accrued under the mercantile system despite a post-year-end resolution waiving interest; a waiver after the accounting year could not nullify income that had already accrued and the "real income" doctrine cannot override the statutory scheme. The appeal for 1968-69 was dismissed as not pressed; that year's waiver was passed before the accounting year-end. en-us Mon, 30 Sep 1996 00:00:00 +0530 Tue, 23 Jun 2026 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5537 For assessment years 1969-70, 1970-71 and 1971-72 the SC allowed the taxpayer's appeals, holding that interest had accrued under the mercantile system despite a post-year-end resolution waiving interest; a waiver after the accounting year could not nullify income that had already accrued and the "real income" doctrine cannot override the statutory scheme. The appeal for 1968-69 was dismissed as not pressed; that year's waiver was passed before the accounting year-end. Case-Laws Income Tax Mon, 30 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5537