https://www.taxtmi.com/caselaws?id=262350 The Tribunal upheld the CIT(A)'s decision, affirming that cooperative banks are entitled to recognize interest on NPAs on a receipt basis under Section 43D of the Income Tax Act, 1961. It emphasized the relevance of beneficial CBDT circulars and the principle of real income, distinguishing the Southern Technologies judgment as inapplicable. The appeal by the Revenue was dismissed, confirming the non-taxability of unrealized interest on NPAs for the cooperative bank involved. en-us Fri, 31 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 06:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262350 The Tribunal upheld the CIT(A)'s decision, affirming that cooperative banks are entitled to recognize interest on NPAs on a receipt basis under Section 43D of the Income Tax Act, 1961. It emphasized the relevance of beneficial CBDT circulars and the principle of real income, distinguishing the Southern Technologies judgment as inapplicable. The appeal by the Revenue was dismissed, confirming the non-taxability of unrealized interest on NPAs for the cooperative bank involved. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262350