https://www.taxtmi.com/caselaws?id=202481 The Tribunal upheld the CIT(A)'s decision to add Rs. 23,77,390/- as interest income accrued on NPAs, rejecting the assessee's argument based on NHB guidelines. It ruled that Section 43D does not automatically include NHB guidelines in Rule 6EB, emphasizing the discretionary power of the rule-making authority. The Tribunal held that the real income theory cannot override explicit statutory provisions, citing specific limits under Section 43D for recognizing interest income on bad debts. Judicial precedents and circulars were deemed irrelevant, with the decision emphasizing adherence to statutory provisions over prudential norms. en-us Wed, 09 Feb 2011 00:00:00 +0530 Fri, 24 Aug 2012 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202481 The Tribunal upheld the CIT(A)'s decision to add Rs. 23,77,390/- as interest income accrued on NPAs, rejecting the assessee's argument based on NHB guidelines. It ruled that Section 43D does not automatically include NHB guidelines in Rule 6EB, emphasizing the discretionary power of the rule-making authority. The Tribunal held that the real income theory cannot override explicit statutory provisions, citing specific limits under Section 43D for recognizing interest income on bad debts. Judicial precedents and circulars were deemed irrelevant, with the decision emphasizing adherence to statutory provisions over prudential norms. Case-Laws Income Tax Wed, 09 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202481