https://www.taxtmi.com/caselaws?id=343483 The High Court held that the interest income waived by the assessee on loans given to debtors was not taxable as it did not accrue in real terms, supported by Board resolutions passed before the assessment year. The Tribunal's reliance on the absence of Board resolutions was deemed misplaced, and the appeal was allowed, setting aside the Tribunal's decision with no costs awarded. en-us Thu, 30 Mar 2017 00:00:00 +0530 Fri, 26 May 2017 07:11:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343483 The High Court held that the interest income waived by the assessee on loans given to debtors was not taxable as it did not accrue in real terms, supported by Board resolutions passed before the assessment year. The Tribunal's reliance on the absence of Board resolutions was deemed misplaced, and the appeal was allowed, setting aside the Tribunal's decision with no costs awarded. Case-Laws Income Tax Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343483