1Case: we have left to show interst income in yearly income & AO has ordered tax recovery on recipt basis of interest income instead of Accrual basis which is spread in length of 5 years.
2.hence appeal to CIT.
3.CIT has upheld the AO stands & income tax on interest income : on reciept basis & not on accrual basis( which is spread in the 5 years length), hence we have to pay more income tax on reciept basis than accrual basis & our appeal is dismissed.
So it is advisable to go furhter in Apellate tribunalfor appeal?
is there any chance in law that calculation of tax on accrual basis is considered in tribunal?
pl guide.
CAclubindia
