[aaykarbhavan] Interest accrued under ‘Deferred Payment Plan’ couldn’t escape tax net by crediting it to suspense account

 

Interest accrued under 'Deferred Payment Plan' couldn't escape tax net by crediting it to suspense account

May 27, 2014[2014] 44 taxmann.com 482 (Allahabad)

IT : Where pursuant to directions of State Government, assessee sold three properties under 'Deferred Payment Plan' in terms of which purchaser was under obligation to pay interest on unpaid amount in accordance with schedule of payment, interest income so received was chargeable to tax

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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