https://www.taxtmi.com/caselaws?id=13995 The appeal under section 260A of the Income-tax Act, 1961 against the disallowance of accrued interest under section 43B for the assessment year 1996-97 was dismissed. The assessing authority was justified in disallowing the accrued interest claimed by the assessee as deductions are mandated only upon actual payment as per the loan agreement terms. Since the interest amounts were payable in the succeeding assessment year and not the current year, the claim for accrued interest was deemed inadmissible. The appeal was dismissed without costs awarded. en-us Thu, 12 Jul 2001 00:00:00 +0530 Mon, 06 Jul 2009 18:05:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13995 The appeal under section 260A of the Income-tax Act, 1961 against the disallowance of accrued interest under section 43B for the assessment year 1996-97 was dismissed. The assessing authority was justified in disallowing the accrued interest claimed by the assessee as deductions are mandated only upon actual payment as per the loan agreement terms. Since the interest amounts were payable in the succeeding assessment year and not the current year, the claim for accrued interest was deemed inadmissible. The appeal was dismissed without costs awarded. Case-Laws Income Tax Thu, 12 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13995