https://www.taxtmi.com/caselaws?id=32899 The court held that interest income from debentures for non-resident assessees should be assessed on an accrual basis, adding it to taxable income for the year in which it accrues, irrespective of actual receipt. The court emphasized that income once accrued to a non-resident must be included in the previous year's income. The court rejected the argument that tax deduction at source by the paying company alleviates the need for individual assessment, clarifying that tax deducted at source can be adjusted during assessment to prevent double taxation. The decision favored the Revenue, affirming the accrual basis of assessment for non-residents. en-us Tue, 06 Jan 2009 00:00:00 +0530 Wed, 08 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32899 The court held that interest income from debentures for non-resident assessees should be assessed on an accrual basis, adding it to taxable income for the year in which it accrues, irrespective of actual receipt. The court emphasized that income once accrued to a non-resident must be included in the previous year's income. The court rejected the argument that tax deduction at source by the paying company alleviates the need for individual assessment, clarifying that tax deducted at source can be adjusted during assessment to prevent double taxation. The decision favored the Revenue, affirming the accrual basis of assessment for non-residents. Case-Laws Income Tax Tue, 06 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32899