https://www.taxtmi.com/caselaws?id=11377 The court held that the amounts credited to "Deferred accrued interest" were not taxable income as they did not constitute real or accrued income. The court found that there was no legal obligation for the user-agencies to pay the interest, and the amounts were unilaterally quantified by the assessee. The appeals were allowed, and the amounts were directed to be deleted from the assessee's income for the respective assessment years. The Tribunal's decision was overturned as it incorrectly applied the concept of real income in determining the taxability of the interest amounts. en-us Thu, 11 Dec 2003 00:00:00 +0530 Fri, 07 Aug 2009 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11377 The court held that the amounts credited to "Deferred accrued interest" were not taxable income as they did not constitute real or accrued income. The court found that there was no legal obligation for the user-agencies to pay the interest, and the amounts were unilaterally quantified by the assessee. The appeals were allowed, and the amounts were directed to be deleted from the assessee's income for the respective assessment years. The Tribunal's decision was overturned as it incorrectly applied the concept of real income in determining the taxability of the interest amounts. Case-Laws Income Tax Thu, 11 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11377