https://www.taxtmi.com/highlights?id=71134 Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be accrued at all. As per the Mercantile System of Accounting also, which follows accrual method of accounting, where there is no certainty of collection of revenue, income cannot be recognized. AS-9 is for the purpose of accounting for income on mercantile basis only. - AT en-us Thu, 27 Jul 2023 15:25:27 +0530 Thu, 27 Jul 2023 15:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71134 Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be accrued at all. As per the Mercantile System of Accounting also, which follows accrual method of accounting, where there is no certainty of collection of revenue, income cannot be recognized. AS-9 is for the purpose of accounting for income on mercantile basis only. - AT Highlights Income Tax Thu, 27 Jul 2023 15:25:27 +0530 https://www.taxtmi.com/highlights?id=71134