Assessee received interest income during AY 2014-15. However, the same was not offered to tax in the return of income and therefore, the same was added to the total income of assessee by the AO. Before the CIT (A), Assessee contended that since interest income was offered to tax in the subsequent AY, taxing the same in the current AY would result in double taxation. CIT (A) dismissed the appeal of the Assessee on the basis that since Assessee was following mercantile system of accounting, interest income is required to be taxed on accrual basis. Hon’ble Tribunal upheld the order of the CIT (A) and held that the interest income should have been offered to tax in AY 2014-15 itself with consequential relief if said interest income is offered to tax in subsequent AY. (AY.2014-15)