https://www.taxtmi.com/caselaws?id=178277 The Tribunal upheld the CIT(A)'s decision that interest on Non-Performing Assets (NPAs) for a cooperative bank should be recognized on an actual receipt basis, in line with RBI guidelines and legal precedents. It also ruled that forfeited dividend credited to the General Reserve, having already been taxed when initially declared, should not be considered taxable income. The Tribunal dismissed the Revenue's appeal on both issues, affirming the CIT(A)'s decisions. en-us Fri, 27 Sep 2013 00:00:00 +0530 Sat, 05 Nov 2016 22:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178277 The Tribunal upheld the CIT(A)'s decision that interest on Non-Performing Assets (NPAs) for a cooperative bank should be recognized on an actual receipt basis, in line with RBI guidelines and legal precedents. It also ruled that forfeited dividend credited to the General Reserve, having already been taxed when initially declared, should not be considered taxable income. The Tribunal dismissed the Revenue's appeal on both issues, affirming the CIT(A)'s decisions. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178277