Commissioner Of Income-Tax vs Dalmia Dairy Industries Ltd.
1990 Latest Caselaw 379 Del

Citation : 1990 Latest Caselaw 379 Del
Judgement Date : 30 August, 1990

Delhi High Court

Commissioner Of Income-Tax vs Dalmia Dairy Industries Ltd. on 30 August, 1990

Equivalent citations: 1991 188 ITR 611 Delhi

Author: B Kirpal

Bench: B Kirpal, S Duggal

JUDGMENT

B.N. Kirpal, J.

1. The question involved in this case is whether the interest on fixed deposit was taxable on accrual or cash basis. The assessment year in question is 1978-79. We are informed by learned counsel for the respondent that the fixed deposit matured on November 7, 1977, relevant to the assessment year 1979-80, the accounting year ending on September 30, 1978, and that tax has been paid on receipt basis on the whole of the amount of interest received by the respondent. It is further stated that this assessment of tax on receipt basis has been accepted by the assessed and is not under challenge.

2. In view of the aforesaid, there is no reason as to why any reference should be called for because the question has really become academic.

3. The petition is, accordingly, dismissed.

4. There will be no order as to costs.

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Commissioner Of Income-Tax vs Dalmia Dairy Industries Ltd.
1990 Latest Caselaw 379 Del

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Commissioner Of Income-Tax vs Dalmia Dairy Industries Ltd.1990 Latest Caselaw 379 Del

LatestLaws Partner Event : Smt. Nirmala Devi Bam Memorial International Moot Court Competition

Commissioner Of Income-Tax vs Dalmia Dairy Industries Ltd.
1990 Latest Caselaw 379 Del