https://www.taxtmi.com/caselaws?id=59928 The Tribunal concluded that the interest income of Rs. 17,962 should not be included in the assessee's income for the assessment year 1980-81. The Tribunal held that the Income-tax Officer was not justified in including this amount, considering the bona fide belief of the assessee regarding the irrecoverability of the interest and principal amounts. The decision was based on legal precedents supporting the assessee's position, emphasizing that income should only be assessed when it has actually arisen or accrued. en-us Tue, 10 Dec 2002 00:00:00 +0530 Sat, 01 Jan 2011 18:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59928 The Tribunal concluded that the interest income of Rs. 17,962 should not be included in the assessee's income for the assessment year 1980-81. The Tribunal held that the Income-tax Officer was not justified in including this amount, considering the bona fide belief of the assessee regarding the irrecoverability of the interest and principal amounts. The decision was based on legal precedents supporting the assessee's position, emphasizing that income should only be assessed when it has actually arisen or accrued. Case-Laws Income Tax Tue, 10 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59928