https://www.taxtmi.com/caselaws?id=11845 The Income-tax Appellate Tribunal was justified in deleting the addition of Rs. 2,04,000 made by the Assessing Officer and confirmed by the Commissioner of Income-tax (Appeals) to Rs. 2,69,685 on account of interests from the Hindu undivided family debtor on an accrual basis. The Tribunal found that the decision to waive interest indicated that the income did not accrue in reality for the relevant assessment year, and the assessee's omission to enter the accrual of interest in the books supported this finding. The court ruled in favor of the assessee, affirming the Tribunal's decision to delete the addition. en-us Mon, 31 Mar 2003 00:00:00 +0530 Wed, 10 Feb 2010 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11845 The Income-tax Appellate Tribunal was justified in deleting the addition of Rs. 2,04,000 made by the Assessing Officer and confirmed by the Commissioner of Income-tax (Appeals) to Rs. 2,69,685 on account of interests from the Hindu undivided family debtor on an accrual basis. The Tribunal found that the decision to waive interest indicated that the income did not accrue in reality for the relevant assessment year, and the assessee's omission to enter the accrual of interest in the books supported this finding. The court ruled in favor of the assessee, affirming the Tribunal's decision to delete the addition. Case-Laws Income Tax Mon, 31 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11845