State Bank of Travancore v. CIT

158 ITR 102Supreme Court of India1986#401 most cited

What is State Bank of Travancore v. CIT authority for?

Under the mercantile system of accounting, interest income accrues and is taxable in the year it arises, even for "sticky" or doubtful loans, as the right to receive the income is paramount, not its actual receipt, provided there is an agreement for payment.

222

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 1999 to 2026.

Also referred to as

State Bank of Travancore v CIT · 158 ITR 102 · 24 Taxmann 337 · mercantile system of accounting · accrual of interest · sticky loans · doubtful debts · right to receive income · Section 145 · Section 36(1)(vii) · Section 36(1)(viia)

Also reported as

24 Taxmann 337

Sections most often in play

Section 143(3)Section 14ASection 37(1)Section 115JBSection 36(1)(vii)Section 147Section 36(1)(viia)Section 10(34)
Read the full judgment

Issues it is cited on

section 41(4)right to receivesection 36(1)(viia)interest on securitiesmercantile system of accountingsection 36(1)(vii)profits and gains of business or professionrevenue expendituresection 145section 36(1)section 28section 36

Judgments citing State Bank of Travancore v. CIT

Vardhman (Mahila) Co-Operative Urban Bank Limited, Hyderabad vs. ACIT, Circle-14(1), Hyderabad

Appeal is allowed in above terms

ITA 624/HYD/2017[2013-14]Status: DisposedITAT Hyderabad17 Jan 2022AY 2013-14

Bench: Shri A.Mohan Alankamony & Shri S.S.Godara

For Appellant: NONEFor Respondent: Shri T.Sunil Goutam, DR
Section 143(3)Section 145Section 430Section 43DSection 6

…may be, in which it is actually received by that institution or bank or corporation or company, whichever is earlier. 9. Section 43D of the Act was brought in basically intended to overcome the decision of the Supreme Court in State Bank of Travancore Vs. CIT 158 ITR 102 (SC) wherein it was held that interest on doubtful advances credited to "interest suspense account" and not transferred to "profit and loss account" should be considered as accrued according to the mercantile system of accounting and was taxable as such. The benefit of exception from the said Supreme Court's decision was given through section 43D…

Assistant Commissioner of Income Tax Circle-1, Bellary vs. Shri Vazhyiel House Narayanan Kutty Menon, Bellary

In the result, the revenue’s appeal is partly allowed for statistical purposes

ITA 1545/BANG/2018[2014-15]Status: DisposedITAT Bangalore05 Oct 2021AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year : 2014-15

For Appellant: Shri B.K. Singh, CIT(DR)(ITAT), BengaluruFor Respondent: Shri B.S. Balachandran, Advocate

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER Assessment year : 2014-15 The Deputy Commissioner Vs. Late Shri Vazhyel House of Income Tax, Narayanan Kutty Menon Central Circle 1(1), By L/Rs Bengaluru. Smt. Vijayalakshmi Menon Shri Urathe Krishna Prasad Smt. Febitha Kandan Kulangara Ms. Roshini Kulangara Urathe Ms. Meghna Kulangara Urathe Shri Pramod Menon Smt. Padma Vijayan Ms. Kangana Pramod Ms. Sanjana Pramod 6, 14th Ward, KHB Colony, Sandur. Bellary Dist. PAN: AGXPM 5124G APPELLANT RESPONDENT Appellant by :…

State Bank of India, Mumbai vs. Asst CIT Cir 2(2), Mumbai

In the result, appeal of the Revenue in ITA No

ITA 3779/MUM/2012[2003-04]Status: DisposedITAT Mumbai30 Sept 2021AY 2003-04
Section 143(3)

…wed by the appellant unless a portion of this amount is written off as bad debt. It is a real income and hence has to be taxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary…

Dabur Invest Corp, New Delhi vs. JCIT, Range-46, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 8058/DEL/2018[2015-16]Status: DisposedITAT Delhi11 Feb 2021AY 2015-16

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi(Partially Through Video Conferencing) Dabur Invest Corp, The Joint Commissioner Of Vs. 4Th Floor, Punjabi Bhawan, 10, Income Tax , Rouse Avenue, New Delhi Range-46, Pan: Aaadfd2529G New Delhi (Appellant) (Respondent)

For Appellant: Shri M. P. Rastogi, AdvFor Respondent: Shri G. C. Srivastava, Adv
Section 143Section 4

…ed for the current year, reflected by an increase in the option price during the year, brought it to tax. Reliance is placed by it on Madras Industrial Investment Corpn. Ltd. v. CIT [1997] 225 ITR 802/91 Taxman 340 (SC); State Bank of Travancore v. CIT [1986] 158 ITR 102/24 Taxman 337 (SC); and CIT v. A. Gajapathy Naidu [1964] 53 ITR 114 (SC).” [Underline supplied by us] 69. Therefore, only issue before the Coordinate bench in that case was in which year the income accrues. It was not the issue before the coordinate bench that whether the money received by the assessee as an option price is a revenue receipt or a…

M/S. Veerabhadrappa Sangappa & Company, Sandur vs. The Assistant Commissioner of Income Tax, Circle- 1, Bellary

In the result appeal filed by assessee stands partly allowed

ITA 1054/BANG/2019[2013-14]Status: DisposedITAT Bangalore08 Dec 2020AY 2013-14

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2013–14

For Appellant: Shri Chythanya K.K, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT
Section 145Section 28Section 5

…mitted that as the amount of Rs. 28,55,04, 732/- and Rs. 24,64,49,0121-, did not accrue to the Assessee, there is no question of any liability of the same to tax during the impugned assessment years. 8) In the case of in State Bank of Travancore v. CIT [1986] 158 ITR 102 / 24 Taxman 337 (SC), the Honourable Supreme Court held as under: "In determining the question whether it is hypothetical income or whether real income has materialised or not, various factors will have to be taken into account. It would be difficult and improper to extend the concept of real income to all cases depending upon the ipse dixit of t…

State Bank of India, Mumbai vs. Addl CIT RG 2(2), Mumbai

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 6482/MUM/2010[2000-01]Status: DisposedITAT Mumbai06 Mar 2020AY 2000-01

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6482 /Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) State Bank Of India बिधम/ Acit Range-2(2) Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. Ita. No. 6822/Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) Acit Range-2(2) बिधम/ State Bank Of India Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs8577K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Girish Dave/Urvi Mehta Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 12/12/2019 घोषणा की तारीख /Date Of Pronouncement: 06/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue As Well As Assessee Have Filed The Above Mentioned Appeals Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000-01. Ita. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 2. The Assessee Has Filed The Present Appeal Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-05, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000- 01. 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Girish Dave/Urvi MehtaFor Respondent: Shri Awungshi Gimson (DR)
Section 14ASection 43D

…wed by the appellant unless a portion of this amount is written off as bad debt. It is a real income and hence has to be taxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary…

State Bank of India, Mumbai vs. Addl CIT RG 2(2), Mumbai

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

ITA 3644/MUM/2016[2008-09]Status: DisposedITAT Mumbai03 Feb 2020AY 2008-09

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

For Appellant: Shri P.J. Pardiwalla &For Respondent: Shri Anadi Varma, CIT-DR&
Section 143(3)Section 147

…e mentioned in the securities and, hence, the same cannot be taxed since interest was not payable on the 31st March as per the terms of the said securities. 113. The learned CIT DR referred to several decisions such as State Bank of Travancore Vs. CIT [1986] 158 ITR 102 (SC), U.P Chalchitra Nigam Ltd. Vs. CIT [2015] 370 ITR 379 (Allahabad) and Mahindra Telecommunication Investment P. Ltd Vs. ITO [2016] 69 taxmann.com 431 (Mumbai). He argued that the 107 | P a g e State Bank of India ITA Nos.3644&4563/Mum/2016 facts are not applicable to the present issue as in the said cases there was no dispute that as per the…

The Jute Corporation of India Ltd., Kolkata vs. ITO, Ward - 1(3), Kolkata

In the result, the appeal of assessee is allowed for statistical purpose

ITA 2428/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 Jan 2020AY 2011-12

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

Section 43B

…ge of the obligation of the assessee, it will be a 17 The Jute Corporation of India Ltd., AY: 2011-12 case of application of income by the assessee and not of diversion or income by overriding title. Moreover, in the case of State Bank of Travancore, (1986) 158 ITR 102 (SC), the Hon'ble Supreme Court has laid down the following propositions: "(1) It is the Income which has really accrued or arisen to the assessee that is taxable. Whether the income has really accrued or arisen to the assessee must be judged in the light of the reality of the situation. (2) The concept of real income would apply where there has…

M/S. Industrial Develop, Ment Bank of India, Mumbai vs. The Dy CIT RG 3(1), Mumbai

ITA 3371/MUM/2004[1998-1999]Status: DisposedITAT Mumbai02 Jan 2020AY 1998-1999

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 3371/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 3372/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 3373/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 2000-01) Industrial Development Bank Of The Dy. Commissioner Of Income India, Taxation Cell, 3 Rd Floor, Tax, Range 3(1), 6 Th Floor, Room Vs. Idbi Tower, Wtc Complex, No. 623, Aayakar Bhavan, M.K. Cuffe Parade, Mumbai-400 005 Road, Mumbai-400 020 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थामी रेखा िं./Pan No. Aaaci1105R Aayakr Apila Sam./ Ita No. 4744/Mum/2005 (Inaqa-Arna Baya- / Assessment Year 2001-02) Aayakr Apila Sam./ Ita No. 5962/Mum/2008 (Inaqa-Arna Baya- / Assessment Year 2002-03) Aayakr Apila Sam./ Ita No. 3907/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2003-04) Aayakr Apila Sam./ Ita No. 3908/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2004-05) Aayakr Apila Sam./ Ita No. 3909/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2005-06) Aayakr Apila Sam./ Ita No. 2488/Mum/2010 (Inaqa-Arna Baya- / Assessment Year 2006-07) Aayakr Apila Sam./ Ita No. 13/Mum/2011

Section 143(3)

…spect of period which pertained prior to assessment year 1991-92 was not recognized as income during the year on the ground that the same was recognized in the earlier year in terms of the decision of Apex court in the case of CIT vs State Bank of Travancore, 158 ITR 102 (SC). It is pertinent to state that Section 43D of the Act was introduced by the Finance Act, 1991 w.e.f. 1.4.1991, i.e. 1991-92 whereby it has been provided that income by way of interest in relation to bad and doubtful debts shall be chargeable to tax in the previous year in which it was created by the public financial institution or bank or ot…

ACIT, Circle - 2(2), Kolkata vs. M/S. West Bengal State Electricity Distribution Co. Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 386/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…, the same is passed on to a third person in discharge of the obligation of the assessee, it will be a case of application of income by the assessee and not of diversion or income by overriding title. Moreover, in the case of State Bank of Travancore, (1986) 158 ITR 102 (SC), the Hon'ble Supreme Court has laid down the following propositions: "(1) It is the Income which has really accrued or arisen to the assessee that is taxable. Whether the income has really accrued or arisen to the assessee must be judged in the light of the reality of the situation. (2) The concept of real income would apply where there has…

West Bengal State Electricity Distribution Co. Ltd., Kolkata vs. DCIT, Circle - 2(2), Kolkata

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 150/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…, the same is passed on to a third person in discharge of the obligation of the assessee, it will be a case of application of income by the assessee and not of diversion or income by overriding title. Moreover, in the case of State Bank of Travancore, (1986) 158 ITR 102 (SC), the Hon'ble Supreme Court has laid down the following propositions: "(1) It is the Income which has really accrued or arisen to the assessee that is taxable. Whether the income has really accrued or arisen to the assessee must be judged in the light of the reality of the situation. (2) The concept of real income would apply where there has…

J.P Tobaco Products Pvt. Ltd vs. Dy. Comissioner of Income Tax(TDS)

In the result, the assessee‘s appeals are allowed

ITA 156/JAB/2015[2011-12]Status: DisposedITAT Jabalpur20 Dec 2019AY 2011-12

Bench: Shri Bhavnesh Saini & Shri Sanjay Arora

Section 195Section 195(1)Section 195(2)Section 201Section 201(1)

…7/- for f.y. 2009-10 and f.y.2010-11 respectively u/s. 201(1), besides liable for interest u/s. 201(1A). A Board‘s Circular cannot override the provisions of the Act, as clarified by the Apex Court per its‘ decisions in State Bank of Tranvancore v. CIT [1986] 158 ITR 102 (SC) and Kerala Financial Corporation v. CIT [1994] 210 ITR 129 (SC). The Board‘s Circular supra, as well as Circular No. 23, dated 23.7.1969, which the former reiterates, and Circular No.163, dated 29.5.1975, stand withdrawn by Circular No.7/2009, dated 22.10.2009, so that reliance thereon is not apposite; rather misleading and unfortunate. 3.…

J.P Tobaco Products Pvt. Ltd vs. Dy. Comissioner of Income Tax(TDS)

In the result, the assessee‘s appeals are allowed

ITA 155/JAB/2015[2010-11]Status: DisposedITAT Jabalpur20 Dec 2019AY 2010-11

Bench: Shri Bhavnesh Saini & Shri Sanjay Arora

Section 195Section 195(1)Section 195(2)Section 201Section 201(1)

…7/- for f.y. 2009-10 and f.y.2010-11 respectively u/s. 201(1), besides liable for interest u/s. 201(1A). A Board‘s Circular cannot override the provisions of the Act, as clarified by the Apex Court per its‘ decisions in State Bank of Tranvancore v. CIT [1986] 158 ITR 102 (SC) and Kerala Financial Corporation v. CIT [1994] 210 ITR 129 (SC). The Board‘s Circular supra, as well as Circular No. 23, dated 23.7.1969, which the former reiterates, and Circular No.163, dated 29.5.1975, stand withdrawn by Circular No.7/2009, dated 22.10.2009, so that reliance thereon is not apposite; rather misleading and unfortunate. 3.…

M/S. Simpson Unitech Wireless (P) Ltd., New Delhi vs. ITO, New Delhi

In the result, the appeals of the assessees are allowed and the appeal of the Revenue is dismissed

ITA 1953/DEL/2014[2009-10]Status: DisposedITAT Delhi08 Nov 2019AY 2009-10

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: Shri Salil Agrawal, Adv. ShriFor Respondent: Shri S.S. Rana CIT-DR
Section 28Section 3

…income of the assessee.” In arriving the aforesaid conclusion, their Lordships relied on the following judgments of the Hon’ble Supreme Court: ii) 46 ITR 144 (SC) CIT vs. Shoorji Vallabhdas and Company iii) 82 ITR 835 (SC) Morvi Industries Ltd. vs. CIT iv) 158 ITR 102 (SC) State Bank of Travancore vs. CIT v) In the above judgment, it is clearly stated that income tax cannot be levied on hypothetical income. The income tax is a tax on real income and there cannot be a tax if income does not result at all. In the said case the court took the view that, the probability or improbability of realization has to be co…

M/S. Acorus Unitech Wireless Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessees are allowed and the appeal of the Revenue is dismissed

ITA 2989/DEL/2017[2009-10]Status: DisposedITAT Delhi08 Nov 2019AY 2009-10

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: Shri Salil Agrawal, Adv. ShriFor Respondent: Shri S.S. Rana CIT-DR
Section 28Section 3

…income of the assessee.” In arriving the aforesaid conclusion, their Lordships relied on the following judgments of the Hon’ble Supreme Court: ii) 46 ITR 144 (SC) CIT vs. Shoorji Vallabhdas and Company iii) 82 ITR 835 (SC) Morvi Industries Ltd. vs. CIT iv) 158 ITR 102 (SC) State Bank of Travancore vs. CIT v) In the above judgment, it is clearly stated that income tax cannot be levied on hypothetical income. The income tax is a tax on real income and there cannot be a tax if income does not result at all. In the said case the court took the view that, the probability or improbability of realization has to be co…

DCIT, New Delhi vs. M/S. Acorus Wireless Unitech Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and the appeal of the Revenue is dismissed

ITA 2075/DEL/2017[2009-10]Status: DisposedITAT Delhi08 Nov 2019AY 2009-10

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: Shri Salil Agrawal, Adv. ShriFor Respondent: Shri S.S. Rana CIT-DR
Section 28Section 3

…income of the assessee.” In arriving the aforesaid conclusion, their Lordships relied on the following judgments of the Hon’ble Supreme Court: ii) 46 ITR 144 (SC) CIT vs. Shoorji Vallabhdas and Company iii) 82 ITR 835 (SC) Morvi Industries Ltd. vs. CIT iv) 158 ITR 102 (SC) State Bank of Travancore vs. CIT v) In the above judgment, it is clearly stated that income tax cannot be levied on hypothetical income. The income tax is a tax on real income and there cannot be a tax if income does not result at all. In the said case the court took the view that, the probability or improbability of realization has to be co…

DCIT, New Delhi vs. M/S Ircon International Ltd., New Delhi

In the result, all the three appeals of the assessee for A

ITA 3805/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…ahakari Mandali Ltd., 253 ITR 97 where it has been held that an amount which is subject matter of dispute cannot be said to have accrued to the appellant and can be taxed only when the dispute is settled. (vi) In the case of State Bank of Travancore Vs. CIT, 158 ITR 102, the principle of real income has been laid. (vii) Reliance has also been placed on the case of Anoop Engineering Ltd. Vs. CIT, 247 ITR 457 where it has been held that for the purpose of ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 69 2234/Del/2005 & 3805/Del/2008 ascertaining whether income had accrued to the assessee one…

Ircon International Ltd., New Delhi vs. DCIT, Circle-11(1), Delhi

In the result, all the three appeals of the assessee for A

ITA 705/DEL/2006[2002-2003]Status: DisposedITAT Delhi31 Oct 2019AY 2002-2003

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…ahakari Mandali Ltd., 253 ITR 97 where it has been held that an amount which is subject matter of dispute cannot be said to have accrued to the appellant and can be taxed only when the dispute is settled. (vi) In the case of State Bank of Travancore Vs. CIT, 158 ITR 102, the principle of real income has been laid. (vii) Reliance has also been placed on the case of Anoop Engineering Ltd. Vs. CIT, 247 ITR 457 where it has been held that for the purpose of ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 69 2234/Del/2005 & 3805/Del/2008 ascertaining whether income had accrued to the assessee one…

DCIT, Circle-11(1) vs. Ircon International Ltd

In the result, all the three appeals of the assessee for A

ITA 2234/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…ahakari Mandali Ltd., 253 ITR 97 where it has been held that an amount which is subject matter of dispute cannot be said to have accrued to the appellant and can be taxed only when the dispute is settled. (vi) In the case of State Bank of Travancore Vs. CIT, 158 ITR 102, the principle of real income has been laid. (vii) Reliance has also been placed on the case of Anoop Engineering Ltd. Vs. CIT, 247 ITR 457 where it has been held that for the purpose of ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 69 2234/Del/2005 & 3805/Del/2008 ascertaining whether income had accrued to the assessee one…

Ircon International Limited, New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee for A

ITA 3804/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…ahakari Mandali Ltd., 253 ITR 97 where it has been held that an amount which is subject matter of dispute cannot be said to have accrued to the appellant and can be taxed only when the dispute is settled. (vi) In the case of State Bank of Travancore Vs. CIT, 158 ITR 102, the principle of real income has been laid. (vii) Reliance has also been placed on the case of Anoop Engineering Ltd. Vs. CIT, 247 ITR 457 where it has been held that for the purpose of ITA Nos. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 69 2234/Del/2005 & 3805/Del/2008 ascertaining whether income had accrued to the assessee one…