https://www.taxtmi.com/caselaws?id=22283 The Supreme Court ruled in favor of the Revenue, holding that interest on sticky advances is taxable income, regardless of accounting treatment. The Court emphasized that executive circulars do not override statutory tax provisions, affirming the taxability of such interest. This decision establishes the principle that real income governs tax liability, irrespective of accounting practices. The judgment serves as a precedent for cases involving the tax treatment of interest on doubtful loans, providing clarity on assessing such income for taxation purposes. en-us Fri, 20 Apr 1990 00:00:00 +0530 Tue, 08 Dec 2009 16:14:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22283 The Supreme Court ruled in favor of the Revenue, holding that interest on sticky advances is taxable income, regardless of accounting treatment. The Court emphasized that executive circulars do not override statutory tax provisions, affirming the taxability of such interest. This decision establishes the principle that real income governs tax liability, irrespective of accounting practices. The judgment serves as a precedent for cases involving the tax treatment of interest on doubtful loans, providing clarity on assessing such income for taxation purposes. Case-Laws Income Tax Fri, 20 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22283