https://www.taxtmi.com/caselaws?id=353806 The High Court favored the assessee in a case involving the accrual of interest income on a loan given to a subsidiary company. The Tribunal's decision was set aside as it did not consider the impact of a High Court decree that was subsequently overturned. The Court ruled in favor of the assessee, stating that the waiver of interest by the assessee prior to the assessment year negated any accrual of interest income. The Tribunal's direction to re-decide the claim of interest income was deemed unnecessary in light of these circumstances. en-us Tue, 05 Dec 2017 00:00:00 +0530 Fri, 12 Jan 2018 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353806 The High Court favored the assessee in a case involving the accrual of interest income on a loan given to a subsidiary company. The Tribunal's decision was set aside as it did not consider the impact of a High Court decree that was subsequently overturned. The Court ruled in favor of the assessee, stating that the waiver of interest by the assessee prior to the assessment year negated any accrual of interest income. The Tribunal's direction to re-decide the claim of interest income was deemed unnecessary in light of these circumstances. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353806