https://www.taxtmi.com/caselaws?id=264127 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 26,59,026/- made by the AO on account of interest receivable on NPAs. The Tribunal affirmed that RBI guidelines and CBDT circulars take precedence over the Income Tax Act's accrual principles for income recognition, and interest on NPAs should only be taxed upon actual receipt. en-us Fri, 28 Aug 2015 00:00:00 +0530 Thu, 17 Sep 2015 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264127 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 26,59,026/- made by the AO on account of interest receivable on NPAs. The Tribunal affirmed that RBI guidelines and CBDT circulars take precedence over the Income Tax Act's accrual principles for income recognition, and interest on NPAs should only be taxed upon actual receipt. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264127