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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Interest income timing rules make interest on bad debts taxable as business income when credited or received, whichever is earlier.</h1> Interest on bad or doubtful debts of specified financial institutions is chargeable under the head 'Profits and gains of business or profession' in the tax year in which the interest is credited to the profit and loss account or actually received, whichever is earlier. Specified financial institutions comprise listed categories of public financial institutions, scheduled banks, certain cooperative banks (with stated exclusions), State Financial Corporations, State Industrial Investment Corporations, and notified classes of non banking financial companies; qualifying bad or doubtful debts are to be prescribed with reference to regulatory guidelines.

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