https://www.taxtmi.com/caselaws?id=346353 The Tribunal ruled in favor of the assessee in all aspects of the case. The additions of accrued income and interest were deemed taxable in the year of actual receipt, overturning the AO and FAA decisions. The carry-forward and set-off of unabsorbed depreciation were allowed indefinitely based on relevant case law. Accrued interest was also not taxed until actual receipt. The addition of municipal taxes was rejected as the amount was not received during the relevant year. Consequently, the assessee's appeals were allowed, and the Assessing Officers' appeals were dismissed. en-us Fri, 23 Jun 2017 00:00:00 +0530 Thu, 10 Aug 2017 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346353 The Tribunal ruled in favor of the assessee in all aspects of the case. The additions of accrued income and interest were deemed taxable in the year of actual receipt, overturning the AO and FAA decisions. The carry-forward and set-off of unabsorbed depreciation were allowed indefinitely based on relevant case law. Accrued interest was also not taxed until actual receipt. The addition of municipal taxes was rejected as the amount was not received during the relevant year. Consequently, the assessee's appeals were allowed, and the Assessing Officers' appeals were dismissed. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346353