https://www.taxtmi.com/caselaws?id=197151 The Tribunal ruled in favor of the assessee in a tax dispute concerning the assessment of interest income not declared for taxation. The Tribunal held that since the interest income was accrued but not due and did not represent an enforceable right to receive, it should not be subject to taxation. The Tribunal overturned the decision of the Commissioner of Income Tax (Appeals) and allowed all grounds of the assessee, emphasizing the distinction between actual income and hypothetical income for tax purposes. en-us Fri, 13 May 2016 00:00:00 +0530 Thu, 28 Dec 2017 18:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197151 The Tribunal ruled in favor of the assessee in a tax dispute concerning the assessment of interest income not declared for taxation. The Tribunal held that since the interest income was accrued but not due and did not represent an enforceable right to receive, it should not be subject to taxation. The Tribunal overturned the decision of the Commissioner of Income Tax (Appeals) and allowed all grounds of the assessee, emphasizing the distinction between actual income and hypothetical income for tax purposes. Case-Laws Income Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197151