https://www.taxtmi.com/caselaws?id=177806 Interest on non-performing assets recognised by a bank on receipt basis is taxable only when real income accrues, not on estimated notional accrual; the related addition was deleted. Amortisation of premium on Government securities held to maturity is allowable as a revenue adjustment when spread over the remaining maturity period in accordance with banking prudential norms; the disallowance was deleted. The depreciation ground was not pressed. Interest under section 234B remained consequential, while the section 234A levy required factual verification of timely return filing and was remanded for fresh consideration. en-us Tue, 31 Dec 2013 00:00:00 +0530 Mon, 22 Aug 2016 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177806 Interest on non-performing assets recognised by a bank on receipt basis is taxable only when real income accrues, not on estimated notional accrual; the related addition was deleted. Amortisation of premium on Government securities held to maturity is allowable as a revenue adjustment when spread over the remaining maturity period in accordance with banking prudential norms; the disallowance was deleted. The depreciation ground was not pressed. Interest under section 234B remained consequential, while the section 234A levy required factual verification of timely return filing and was remanded for fresh consideration. Case-Laws Income Tax Tue, 31 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177806