https://www.taxtmi.com/caselaws?id=220262 Interest on non-performing assets was treated as not having accrued where binding RBI prudential directions and accepted accounting norms required recognition only on actual realisation, so the addition on de-recognised interest was deleted. A provision for doubtful debts relating to non-performing assets was held not allowable as a deduction, following Supreme Court authority and the view that prudential provisioning does not by itself create a deductible expense under the Income-tax Act, 1961. The result was mixed: the assessee succeeded on accrual of NPA interest, while the Revenue succeeded on disallowance of the doubtful-debt provision. en-us Fri, 23 Nov 2012 00:00:00 +0530 Tue, 13 Dec 2022 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220262 Interest on non-performing assets was treated as not having accrued where binding RBI prudential directions and accepted accounting norms required recognition only on actual realisation, so the addition on de-recognised interest was deleted. A provision for doubtful debts relating to non-performing assets was held not allowable as a deduction, following Supreme Court authority and the view that prudential provisioning does not by itself create a deductible expense under the Income-tax Act, 1961. The result was mixed: the assessee succeeded on accrual of NPA interest, while the Revenue succeeded on disallowance of the doubtful-debt provision. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220262