Under mercantile system of accounting interest payable is equal to paid. ITAT deleted disallowance on the ground that interest was…
There is no deeming fiction u/s 28(va) to tax amount on receipt basis where sum accrued earlier following mercantile system…
Interest on bank fixed deposit not credited to account taxable on mercantile basis. It is no defense that TDS was not…
Addition for interest income where only TDS was accounted for upheld. There is difference between inability to pay at all…