2014 (9) TMI 762

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.... P.C. 1] We have heard Mr. Suresh Kumar, learned counsel, appearing for the Revenue. At its instance, the question of law has been referred by the Tribunal for answer and opinion of this Court. The said question reads as under: "Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in not appreciating that as per the provisions of section 5(2)(b) of the Act....

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....rnataka Ball Bearings Corporation Ltd. In such circumstances, the Assessing Officer held that the interest had accrued to the Assessee during the previous year relevant for the assessment year 1989-90. That was added to the income. 3] On appeal, the Deputy Commissioner of Income Tax (Appeals) deleted this addition/inclusion by holding that the Assessee has maintained its books of account on cas....