We follow receipt basis of accounting for interest on FDR instead of accural basis of accounting. This practice is followed consistently. In regular scrutiny the AO added the difference amount in total income(interest as per accrual basis less interest as per receipt basis)(reason stated in scrutiny asstt order being TDS fully claimed but interest partly paid on receipt basis). Need your support on following points: 1. We had paid tax on interest on receipt basis after two years, now if we pay tax as per order U/s 143, there would be double payment of tax on same income. Further the time limit for revision of all the above referred returns has lapsed since the assessment is done. Now what procedure do i have to follow to avoid double payment of tax. 2. Advice for ground of appeal to ITAT Appeal.
