https://www.taxtmi.com/caselaws?id=261076 The Tribunal upheld the CIT(A)'s order, ruling that interest income on Non-Performing Assets (NPAs) did not accrue to the assessee-bank and should not be taxed on an accrual basis. The Tribunal dismissed the Revenue's appeal, emphasizing the overriding effect of RBI guidelines on income recognition for cooperative banks. The decision was based on judicial precedents and the principle of real income, stating that only actual income should be taxed. en-us Fri, 31 Oct 2014 00:00:00 +0530 Thu, 02 Jul 2015 06:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261076 The Tribunal upheld the CIT(A)'s order, ruling that interest income on Non-Performing Assets (NPAs) did not accrue to the assessee-bank and should not be taxed on an accrual basis. The Tribunal dismissed the Revenue's appeal, emphasizing the overriding effect of RBI guidelines on income recognition for cooperative banks. The decision was based on judicial precedents and the principle of real income, stating that only actual income should be taxed. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261076