Held that where the Tribunal remanded the issue of disallowance of interest credited to the interest suspense account to the Assessing Officer with a direction to verify whether the interest credited to the interest suspense account had to be taxed in the year of credit or year of recovery. Order of Tribunal is affirmed.
PCIT v. State Bank of India (2023) 459 ITR 497 / 153 taxmann.com 389 (Bom)(HC) Editorial : SLP dismissed, PCIT v. State Bank of India (2023) 294 Taxman 428 (SC)
S. 4 : Charge of income-tax-Accrual of income-Interest-Interest credited to interest suspense account-Taxed in earlier year-Written off in the relevant year-Order of Tribunal is affirmed. [S. 145, 260A]