https://www.taxtmi.com/caselaws?id=258791 Interest on non-performing asset accounts was treated as not accruing for tax purposes where recovery was doubtful and the income had not been credited to profit and loss account. Although the assessee was not shown to be a scheduled bank and therefore did not fall within the express scope of section 43D, the Tribunal preferred its earlier co-ordinate Bench view that RBI prudential income-recognition norms and the real income principle prevent taxation on mere accrual in such circumstances. In the absence of binding jurisdictional High Court authority, the view favourable to the assessee was adopted and the addition on alleged accrued NPA interest was deleted. en-us Fri, 27 Mar 2015 00:00:00 +0530 Tue, 21 Apr 2015 06:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258791 Interest on non-performing asset accounts was treated as not accruing for tax purposes where recovery was doubtful and the income had not been credited to profit and loss account. Although the assessee was not shown to be a scheduled bank and therefore did not fall within the express scope of section 43D, the Tribunal preferred its earlier co-ordinate Bench view that RBI prudential income-recognition norms and the real income principle prevent taxation on mere accrual in such circumstances. In the absence of binding jurisdictional High Court authority, the view favourable to the assessee was adopted and the addition on alleged accrued NPA interest was deleted. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258791