https://www.taxtmi.com/caselaws?id=189291 Interest on non-performing assets of a co-operative bank governed by RBI prudential norms is recognised for tax purposes only on actual receipt, not on accrual basis. The text states that RBI income-recognition directions prevail in this field, so accounting treatment alone does not determine taxability where the governing norms defer recognition until receipt. It further notes that section 43D applies to such interest, entitling the bank to exclude it from taxable income until actually received; the contrary Revenue view is described as inapplicable on the stated facts. en-us Fri, 05 Jun 2015 00:00:00 +0530 Thu, 05 Jan 2017 10:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189291 Interest on non-performing assets of a co-operative bank governed by RBI prudential norms is recognised for tax purposes only on actual receipt, not on accrual basis. The text states that RBI income-recognition directions prevail in this field, so accounting treatment alone does not determine taxability where the governing norms defer recognition until receipt. It further notes that section 43D applies to such interest, entitling the bank to exclude it from taxable income until actually received; the contrary Revenue view is described as inapplicable on the stated facts. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189291