https://www.taxtmi.com/caselaws?id=268117 The Tribunal allowed the deduction under Section 43B for interest paid on a term loan, emphasizing the appellate authority's power to consider claims without a revised return. Interest income on Non-Performing Assets was not recognized following RBI norms, which was upheld by the Tribunal. Accrual of interest on recurring deposits was denied as income only arises on maturity. The Tribunal reversed the addition of interest on deposits with the Pay and Accounts Office, noting crystallization upon sanction. Deductions for bad debts provision and prior period expenses were allowed, while disallowance under Section 14A was restricted. Amortization of registration fees was permitted, ensuring fair adjudication in line with legal principles. en-us Fri, 16 Oct 2015 00:00:00 +0530 Sat, 30 Apr 2016 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268117 The Tribunal allowed the deduction under Section 43B for interest paid on a term loan, emphasizing the appellate authority's power to consider claims without a revised return. Interest income on Non-Performing Assets was not recognized following RBI norms, which was upheld by the Tribunal. Accrual of interest on recurring deposits was denied as income only arises on maturity. The Tribunal reversed the addition of interest on deposits with the Pay and Accounts Office, noting crystallization upon sanction. Deductions for bad debts provision and prior period expenses were allowed, while disallowance under Section 14A was restricted. Amortization of registration fees was permitted, ensuring fair adjudication in line with legal principles. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268117