Section 145 Amended: Interest Income Not Due or Payable Cannot Be Taxed, High Court Rules.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Effect of amendment to section 145 - Merely because in the books of accounts, the interest income, which is not due and payable is shown in the account of the assessee, interst income cannot be taxed - HC....