https://www.taxtmi.com/caselaws?id=177156 The Tribunal dismissed the Revenue's appeal, upholding the deletion of accrued interest on loans and advances by the CIT(A). It ruled that interest on non-performing assets should only be recognized when received, aligning with RBI guidelines and the mercantile system of accounting. The decision emphasized the importance of considering real income for taxation purposes, in accordance with the Income-tax Act and judicial precedents, over notional income. en-us Fri, 21 Dec 2012 00:00:00 +0530 Mon, 08 Aug 2022 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177156 The Tribunal dismissed the Revenue's appeal, upholding the deletion of accrued interest on loans and advances by the CIT(A). It ruled that interest on non-performing assets should only be recognized when received, aligning with RBI guidelines and the mercantile system of accounting. The decision emphasized the importance of considering real income for taxation purposes, in accordance with the Income-tax Act and judicial precedents, over notional income. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177156