Bench: Smt. P. Madhavi Devi & Shri D.S. Sunder Singh
property is handed over to the Government of Andhra Pradesh and the loan / advance interest gets adjusted towards cost of construction. The interest payment has to be received from the Government of Andhra Pradesh. Neither the income is accrued nor the assessee claimed the interest expenditure which remained unpaid. Hence, we hold that Section 43B