https://www.taxtmi.com/caselaws?id=764210 ITAT (AT Mumbai) upheld the deletion by CIT(A), ruling in favour of the assessee that interest income need not be taxed on accrual where genuine uncertainty existed due to NCLAT proceedings and a subsequent OTS; revenue recognition under AS-9 (actual receipt basis in case of uncertainty) was appropriate. The tribunal accepted that part payments were received before settlement, no further principal/interest was received post-settlement, statutory CAG/supplementary audit approved the accounting treatment, and the AO failed to show receipt of the impugned amount during the year. Decision for the assessee. en-us Thu, 28 Nov 2024 00:00:00 +0530 Mon, 18 Aug 2025 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764210 ITAT (AT Mumbai) upheld the deletion by CIT(A), ruling in favour of the assessee that interest income need not be taxed on accrual where genuine uncertainty existed due to NCLAT proceedings and a subsequent OTS; revenue recognition under AS-9 (actual receipt basis in case of uncertainty) was appropriate. The tribunal accepted that part payments were received before settlement, no further principal/interest was received post-settlement, statutory CAG/supplementary audit approved the accounting treatment, and the AO failed to show receipt of the impugned amount during the year. Decision for the assessee. Case-Laws Income Tax Thu, 28 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764210