https://www.taxtmi.com/caselaws?id=19859 The Income-tax Appellate Tribunal ruled that interest income from an arbitration award in the assessment year 1975-76 was not taxable until the award was made a rule of the court. The Tribunal held that income accrues only when an award is enforceable in a court of law, emphasizing that interest under an award becomes taxable once it is a court decree. Therefore, the interest amount was not considered as accrued income for tax purposes until the arbitration award was enforced by the court, as per the Tribunal's decision. en-us Wed, 10 Nov 1993 00:00:00 +0530 Tue, 10 Nov 2009 12:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19859 The Income-tax Appellate Tribunal ruled that interest income from an arbitration award in the assessment year 1975-76 was not taxable until the award was made a rule of the court. The Tribunal held that income accrues only when an award is enforceable in a court of law, emphasizing that interest under an award becomes taxable once it is a court decree. Therefore, the interest amount was not considered as accrued income for tax purposes until the arbitration award was enforced by the court, as per the Tribunal's decision. Case-Laws Income Tax Wed, 10 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19859