https://www.taxtmi.com/caselaws?id=58987 The tribunal ruled in favor of the assessee, holding that the interest income accrued but not received from a firm should not be included in the assessment. The tribunal emphasized that the determination of income accrual should align with commercial and business realities rather than the accounting method. Considering the debtor's financial difficulties and unlikelihood of receiving the dues, the tribunal concluded that the assessee was not in receipt of the interest income, leading to the deletion of the interest addition in the assessment. en-us Mon, 12 Mar 1984 00:00:00 +0530 Thu, 23 Dec 2010 14:18:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58987 The tribunal ruled in favor of the assessee, holding that the interest income accrued but not received from a firm should not be included in the assessment. The tribunal emphasized that the determination of income accrual should align with commercial and business realities rather than the accounting method. Considering the debtor's financial difficulties and unlikelihood of receiving the dues, the tribunal concluded that the assessee was not in receipt of the interest income, leading to the deletion of the interest addition in the assessment. Case-Laws Income Tax Mon, 12 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58987