https://www.taxtmi.com/caselaws?id=290952 Interest shown in the assessee's books as merely due, without actual or constructive receipt, was not assessable as income under Section 13 of the Income Tax Act. Section 13 applies only where sums are shown as received, either actually or constructively; amounts carried as outstanding and recoverable in future remain assets, not realised income. The court therefore held that unpaid interest credited only as due in the ledger could not be treated as taxable income. en-us Wed, 25 Jan 1928 00:00:00 +0530 Fri, 23 Oct 2020 11:28:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290952 Interest shown in the assessee's books as merely due, without actual or constructive receipt, was not assessable as income under Section 13 of the Income Tax Act. Section 13 applies only where sums are shown as received, either actually or constructively; amounts carried as outstanding and recoverable in future remain assets, not realised income. The court therefore held that unpaid interest credited only as due in the ledger could not be treated as taxable income. Case-Laws Income Tax Wed, 25 Jan 1928 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290952