https://www.taxtmi.com/caselaws?id=55162 The Tribunal, with support from the Third Member, ruled that the assessee-company must be taxed on the interest at a rate of 13.25% on an accrual basis. This decision was based on the absence of substantial evidence to substantiate the existence of an oral agreement or waiver regarding the additional interest. The case was remanded to the original Bench for further proceedings. en-us Sat, 23 Jul 1983 00:00:00 +0530 Wed, 24 Nov 2010 11:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55162 The Tribunal, with support from the Third Member, ruled that the assessee-company must be taxed on the interest at a rate of 13.25% on an accrual basis. This decision was based on the absence of substantial evidence to substantiate the existence of an oral agreement or waiver regarding the additional interest. The case was remanded to the original Bench for further proceedings. Case-Laws Income Tax Sat, 23 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55162