https://www.taxtmi.com/caselaws?id=57870 The Tribunal held that interest on securities should be taxed on an accrual basis according to the mercantile system of accounting. It directed the Assessing Officer to reassess the nature of the securities as stock-in-trade or investments to ensure accurate computation of income and deductions, aligning with the assessee's true profits for the year. en-us Mon, 03 Apr 1995 00:00:00 +0530 Wed, 15 Dec 2010 10:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57870 The Tribunal held that interest on securities should be taxed on an accrual basis according to the mercantile system of accounting. It directed the Assessing Officer to reassess the nature of the securities as stock-in-trade or investments to ensure accurate computation of income and deductions, aligning with the assessee's true profits for the year. Case-Laws Income Tax Mon, 03 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57870