https://www.taxtmi.com/caselaws?id=259736 Interest on non-performing assets of a co-operative bank was treated as not accruing as taxable income where RBI prudential norms governed income recognition and the amount had not become real or recoverable during the year. The Tribunal noted that section 43D did not apply in the same manner as to scheduled banks and financial institutions, but followed co-ordinate Bench authority and the view favouring the assessee where non-jurisdictional High Court decisions diverged. The addition for NPA interest was deleted and the Revenue's challenge failed. en-us Wed, 29 Apr 2015 00:00:00 +0530 Wed, 20 May 2015 07:56:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259736 Interest on non-performing assets of a co-operative bank was treated as not accruing as taxable income where RBI prudential norms governed income recognition and the amount had not become real or recoverable during the year. The Tribunal noted that section 43D did not apply in the same manner as to scheduled banks and financial institutions, but followed co-ordinate Bench authority and the view favouring the assessee where non-jurisdictional High Court decisions diverged. The addition for NPA interest was deleted and the Revenue's challenge failed. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259736