https://www.taxtmi.com/caselaws?id=177806 Banking income on non-performing assets is discussed on the principle of real income, with interest recognised on a receipt basis treated as not accruing on a notional basis where that method is consistently followed. Premium amortisation on Government securities in the banking investment portfolio is also treated as allowable when spread over the remaining maturity period in line with prudential banking norms. The note further records that a minor depreciation ground was not pressed, while interest under section 234B was considered consequential and the section 234A issue required factual verification on filing of the return within the prescribed time. 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 Banking income on non-performing assets is discussed on the principle of real income, with interest recognised on a receipt basis treated as not accruing on a notional basis where that method is consistently followed. Premium amortisation on Government securities in the banking investment portfolio is also treated as allowable when spread over the remaining maturity period in line with prudential banking norms. The note further records that a minor depreciation ground was not pressed, while interest under section 234B was considered consequential and the section 234A issue required factual verification on filing of the return within the prescribed time. Case-Laws Income Tax Tue, 31 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177806