https://www.taxtmi.com/caselaws?id=255359 The Tribunal applied earlier orders in the assessee's own case to sustain restriction of deduction for provision for bad and doubtful debts under section 36(1)(viia). It held that interest on non-performing asset accounts did not accrue on a real income basis, having regard to RBI prudential norms and the doubtful nature of recovery, and allowed the claim. It also allowed amortised premium on held-to-maturity securities, following settled treatment under banking guidelines and prior Tribunal rulings. Relief was thus granted on the NPA interest and premium amortisation claims, while the bad debt provision restriction was upheld. en-us Tue, 09 Dec 2014 00:00:00 +0530 Tue, 13 Jan 2015 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255359 The Tribunal applied earlier orders in the assessee's own case to sustain restriction of deduction for provision for bad and doubtful debts under section 36(1)(viia). It held that interest on non-performing asset accounts did not accrue on a real income basis, having regard to RBI prudential norms and the doubtful nature of recovery, and allowed the claim. It also allowed amortised premium on held-to-maturity securities, following settled treatment under banking guidelines and prior Tribunal rulings. Relief was thus granted on the NPA interest and premium amortisation claims, while the bad debt provision restriction was upheld. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255359