https://www.taxtmi.com/caselaws?id=18441 The High Court of Kerala upheld the addition of interest on sticky advances as income for the assessment year 1978-79. The Court ruled in favor of the Revenue, following the Supreme Court's precedent that such interest is taxable income. The Court emphasized that the concept of real income should not be manipulated to avoid tax obligations, stating that income diversion or surrender does not negate tax liability. The decision highlights the importance of how income is treated by parties in determining tax implications, underscoring that mere uncertainty of recovery does not preclude income recognition. en-us Mon, 22 Jan 1996 00:00:00 +0530 Thu, 01 Oct 2009 10:05:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18441 The High Court of Kerala upheld the addition of interest on sticky advances as income for the assessment year 1978-79. The Court ruled in favor of the Revenue, following the Supreme Court's precedent that such interest is taxable income. The Court emphasized that the concept of real income should not be manipulated to avoid tax obligations, stating that income diversion or surrender does not negate tax liability. The decision highlights the importance of how income is treated by parties in determining tax implications, underscoring that mere uncertainty of recovery does not preclude income recognition. Case-Laws Income Tax Mon, 22 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18441