https://www.taxtmi.com/caselaws?id=34596 Interest on debentures issued by companies was treated as taxable under the head "Interest on securities" for the relevant assessment years, following earlier binding authority. Where the assessees maintained accounts on the cash system and had not actually received the interest, the income was taxable only on receipt and not on accrual or due date. Both referred questions were answered in favour of the assessee and against the Revenue, with the reference disposed of without costs. en-us Tue, 21 Jul 2009 00:00:00 +0530 Mon, 21 Sep 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34596 Interest on debentures issued by companies was treated as taxable under the head "Interest on securities" for the relevant assessment years, following earlier binding authority. Where the assessees maintained accounts on the cash system and had not actually received the interest, the income was taxable only on receipt and not on accrual or due date. Both referred questions were answered in favour of the assessee and against the Revenue, with the reference disposed of without costs. Case-Laws Income Tax Tue, 21 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34596