https://www.taxtmi.com/caselaws?id=14774 The court upheld the Assessing Officer's computation of interest on an accrual basis, ruling in favor of the Revenue and against the assessee. The court clarified that interest must be computed on an accrual basis as mandated by Section 5 of the Interest-tax Act, despite the incorporation of Section 145 of the Income-tax Act into the Interest-tax Act. The decision ensured the effective operation of the charging section of the Interest-tax Act in alignment with statutory requirements and legislative intent. en-us Sat, 18 Dec 1999 00:00:00 +0530 Sat, 18 Jul 2009 15:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14774 The court upheld the Assessing Officer's computation of interest on an accrual basis, ruling in favor of the Revenue and against the assessee. The court clarified that interest must be computed on an accrual basis as mandated by Section 5 of the Interest-tax Act, despite the incorporation of Section 145 of the Income-tax Act into the Interest-tax Act. The decision ensured the effective operation of the charging section of the Interest-tax Act in alignment with statutory requirements and legislative intent. Case-Laws Income Tax Sat, 18 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14774