High Court Upholds Tribunal Decision: Income from Non-Performing Assets to be Assessed on Cash Basis, Not Mercantile Basis.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Whether the Tribuanl was right in holding that the income from non-performing assets should be assessed on cash basis and not on mercantile basis despite the assesee maintain mercantile system of accounting - held Yes - HC....