https://www.taxtmi.com/caselaws?id=34252 HC affirmed ITAT, dismissing Revenue's appeal and upholding deletion of accrued interest on inter-corporate deposits from the assessee's taxable income. Court held the interest never actually accrued as real income, especially where principal was later written off as bad debt and tax had been paid only on amounts actually received. The assessee's commercial decision to settle for Rs.480 lakhs was a legitimate business expedient; Revenue's contention about debtor's financial strength failed. No substantial question of law arises, and the appeal is dismissed. en-us Wed, 15 Jul 2009 00:00:00 +0530 Tue, 11 Nov 2025 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34252 HC affirmed ITAT, dismissing Revenue's appeal and upholding deletion of accrued interest on inter-corporate deposits from the assessee's taxable income. Court held the interest never actually accrued as real income, especially where principal was later written off as bad debt and tax had been paid only on amounts actually received. The assessee's commercial decision to settle for Rs.480 lakhs was a legitimate business expedient; Revenue's contention about debtor's financial strength failed. No substantial question of law arises, and the appeal is dismissed. Case-Laws Income Tax Wed, 15 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34252