https://www.taxtmi.com/caselaws?id=357603 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,26,86,509/- made on account of interest accrued on loans, directing the AO to verify and tax the interest on actual receipt basis. The appeal filed by the Revenue was allowed for statistical purposes, maintaining consistency with the Tribunal's earlier rulings in the assessee's own case. The judgment emphasized the principle that income should be taxed based on real, not notional, accruals, considering the commercial realities and uncertainties in collectability. en-us Fri, 23 Mar 2018 00:00:00 +0530 Sun, 25 Mar 2018 19:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357603 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,26,86,509/- made on account of interest accrued on loans, directing the AO to verify and tax the interest on actual receipt basis. The appeal filed by the Revenue was allowed for statistical purposes, maintaining consistency with the Tribunal's earlier rulings in the assessee's own case. The judgment emphasized the principle that income should be taxed based on real, not notional, accruals, considering the commercial realities and uncertainties in collectability. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357603