https://www.taxtmi.com/caselaws?id=38653 The High Court of Kerala ruled in favor of the department, affirming the addition of interest on sticky advances as taxable income for the assessment year 1968-69 in the case involving the State Bank of Travancore. The court emphasized the accrual of income principle and held that the absence of specific directions from the Reserve Bank did not negate the accrual of income. The decision upheld the Income-tax authorities' position against the assessee, establishing that accrued income should be recognized based on regular accounting practices. en-us Tue, 01 Apr 1975 00:00:00 +0530 Thu, 08 Apr 2010 10:29:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38653 The High Court of Kerala ruled in favor of the department, affirming the addition of interest on sticky advances as taxable income for the assessment year 1968-69 in the case involving the State Bank of Travancore. The court emphasized the accrual of income principle and held that the absence of specific directions from the Reserve Bank did not negate the accrual of income. The decision upheld the Income-tax authorities' position against the assessee, establishing that accrued income should be recognized based on regular accounting practices. Case-Laws Income Tax Tue, 01 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38653