https://www.taxtmi.com/caselaws?id=58968 The appellate tribunal upheld the authorities' decisions regarding the accrual and characterization of interest income, dismissing the assessee's appeal. The judgment emphasized that interest income accrued only upon quantification and decree by the court, regardless of the nature of the principal amount. The tribunal affirmed that the interest income was chargeable under the Income-tax Act, 1961, when it became a tangible amount upon the court's decree. The case highlighted the importance of court decrees in determining the timing of accrual for tax purposes. en-us Tue, 04 Mar 1986 00:00:00 +0530 Sun, 06 Feb 2011 03:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58968 The appellate tribunal upheld the authorities' decisions regarding the accrual and characterization of interest income, dismissing the assessee's appeal. The judgment emphasized that interest income accrued only upon quantification and decree by the court, regardless of the nature of the principal amount. The tribunal affirmed that the interest income was chargeable under the Income-tax Act, 1961, when it became a tangible amount upon the court's decree. The case highlighted the importance of court decrees in determining the timing of accrual for tax purposes. Case-Laws Income Tax Tue, 04 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58968