https://www.taxtmi.com/caselaws?id=254001 Interest on non-performing assets was treated as not accruing on a real income basis where a non-scheduled co-operative bank followed RBI prudential norms and did not credit such interest, so taxation on mercantile accrual was rejected. Broken period interest paid on purchase of government securities was regarded as a revenue-linked banking expenditure and allowed as deduction. Amortisation of premium on held-to-maturity securities was permitted in line with banking practice and RBI norms, and employees' provident fund contribution deposited before the return filing due date was allowed as a deduction despite late payment under the provident fund law. en-us Fri, 28 Nov 2014 00:00:00 +0530 Thu, 17 Sep 2015 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254001 Interest on non-performing assets was treated as not accruing on a real income basis where a non-scheduled co-operative bank followed RBI prudential norms and did not credit such interest, so taxation on mercantile accrual was rejected. Broken period interest paid on purchase of government securities was regarded as a revenue-linked banking expenditure and allowed as deduction. Amortisation of premium on held-to-maturity securities was permitted in line with banking practice and RBI norms, and employees' provident fund contribution deposited before the return filing due date was allowed as a deduction despite late payment under the provident fund law. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254001