https://www.taxtmi.com/caselaws?id=249102 The High Court upheld the Tribunal's decision regarding the addition of accrued interest on Non Performing Assets (NPA) for the assessment year 2003-04. The court agreed with the Tribunal that since the interest was not realized and the loans had become nonperforming assets, the income did not accrue to the assessee. Relying on Supreme Court and Delhi High Court judgments, the High Court concluded that the interest income was not assessable on an accrual basis due to being classified as a non-performing asset as per Reserve Bank of India guidelines. The appeal was dismissed without costs. en-us Wed, 11 Jun 2014 00:00:00 +0530 Fri, 04 Jul 2014 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249102 The High Court upheld the Tribunal's decision regarding the addition of accrued interest on Non Performing Assets (NPA) for the assessment year 2003-04. The court agreed with the Tribunal that since the interest was not realized and the loans had become nonperforming assets, the income did not accrue to the assessee. Relying on Supreme Court and Delhi High Court judgments, the High Court concluded that the interest income was not assessable on an accrual basis due to being classified as a non-performing asset as per Reserve Bank of India guidelines. The appeal was dismissed without costs. Case-Laws Income Tax Wed, 11 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249102