https://www.taxtmi.com/caselaws?id=19732 The court ruled in favor of the Revenue, holding that accrued interest should be included in the net wealth of the assessee for assessment years 1977-78 to 1980-81 under the Wealth-tax Act, 1957. Despite the cash system of accounting maintained by the assessee, the court emphasized that interest due on accrual basis, even if not realized, is considered an asset for wealth tax calculation. The decision was based on the interpretation of relevant provisions and previous judicial precedents, overturning the Tribunal's exclusion of accrued interest from the net wealth calculation. en-us Fri, 08 Apr 1994 00:00:00 +0530 Mon, 09 Nov 2009 13:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19732 The court ruled in favor of the Revenue, holding that accrued interest should be included in the net wealth of the assessee for assessment years 1977-78 to 1980-81 under the Wealth-tax Act, 1957. Despite the cash system of accounting maintained by the assessee, the court emphasized that interest due on accrual basis, even if not realized, is considered an asset for wealth tax calculation. The decision was based on the interpretation of relevant provisions and previous judicial precedents, overturning the Tribunal's exclusion of accrued interest from the net wealth calculation. Case-Laws Wealth-tax Fri, 08 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19732