https://www.taxtmi.com/caselaws?id=16678 The court held that the accrued interest of Rs. 26,538 was not assessable as income in the hands of the assessee due to a compromise that involved forgoing both interest and capital. Additionally, the court allowed the deduction of Rs. 23,850 as expenses related to earning the interest income. The court ruled against the Department on the assessability of the interest income and in favor of the assessee on the deductibility of expenses. en-us Thu, 18 Jan 1996 00:00:00 +0530 Wed, 09 Sep 2009 13:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16678 The court held that the accrued interest of Rs. 26,538 was not assessable as income in the hands of the assessee due to a compromise that involved forgoing both interest and capital. Additionally, the court allowed the deduction of Rs. 23,850 as expenses related to earning the interest income. The court ruled against the Department on the assessability of the interest income and in favor of the assessee on the deductibility of expenses. Case-Laws Income Tax Thu, 18 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16678