Deputy Commissioner Of Income Tax (International Taxation) vs Bank Of Bahrain "," Kuwait
Whether interest on Government securities accrues on day-to-day basis or only on specified coupon dates --- Held: Only on coupon dates. Whether broken period interest paid on securities held as stock-in-trade is deductible --- Held: Yes. Whether guarantee commission should be recognized fully in the year of receipt or spread over the guarantee period --- Held: Spread over the period.
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