https://www.taxtmi.com/caselaws?id=275119 The High Court of Karnataka at Bangalore ruled in favor of the assessee on both issues. The judgment clarified that the assessee was entitled to investment allowance and additional depreciation on machineries leased out, emphasizing that hire transactions are forms of bailments. Additionally, the treatment of accrued interest on loans in court was aligned with legal principles, stating that interest should only be recognized upon actual receipt, not mere accrual. en-us Tue, 08 Feb 2000 00:00:00 +0530 Wed, 19 Sep 2018 14:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275119 The High Court of Karnataka at Bangalore ruled in favor of the assessee on both issues. The judgment clarified that the assessee was entitled to investment allowance and additional depreciation on machineries leased out, emphasizing that hire transactions are forms of bailments. Additionally, the treatment of accrued interest on loans in court was aligned with legal principles, stating that interest should only be recognized upon actual receipt, not mere accrual. Case-Laws Income Tax Tue, 08 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275119