https://www.taxtmi.com/caselaws?id=28127 The court ruled in favor of the assessee on all issues. It held that interest and commission not actually received could not be assessed as income on an accrual basis. The court allowed the deduction of litigation expenses as business expenditure, considering it necessary and expedient. The claim for bad debt was deemed academic as the amounts did not accrue. The assessee was awarded costs of Rs. 200 in each reference. en-us Mon, 16 May 1983 00:00:00 +0530 Fri, 19 Feb 2010 11:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28127 The court ruled in favor of the assessee on all issues. It held that interest and commission not actually received could not be assessed as income on an accrual basis. The court allowed the deduction of litigation expenses as business expenditure, considering it necessary and expedient. The claim for bad debt was deemed academic as the amounts did not accrue. The assessee was awarded costs of Rs. 200 in each reference. Case-Laws Income Tax Mon, 16 May 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28127