https://www.taxtmi.com/caselaws?id=345032 The Delhi HC held that de-recognition of interest on NPAs could not be claimed by automatically applying amended National Housing Bank guidelines, because section 43D(b) and Rule 6EB form a self-contained tax computation scheme. The phrase "having regard to" in section 43D(b) does not incorporate every later amendment to the regulator's guidelines into the income-tax rule. Prudential income-recognition norms for accounting purposes cannot override the statutory basis for computing taxable income, and the real income theory cannot displace that prescription. Deduction was therefore confined to the categories specifically covered by Rule 6EB. en-us Mon, 03 Jul 2017 00:00:00 +0530 Mon, 15 Sep 2025 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345032 The Delhi HC held that de-recognition of interest on NPAs could not be claimed by automatically applying amended National Housing Bank guidelines, because section 43D(b) and Rule 6EB form a self-contained tax computation scheme. The phrase "having regard to" in section 43D(b) does not incorporate every later amendment to the regulator's guidelines into the income-tax rule. Prudential income-recognition norms for accounting purposes cannot override the statutory basis for computing taxable income, and the real income theory cannot displace that prescription. Deduction was therefore confined to the categories specifically covered by Rule 6EB. Case-Laws Income Tax Mon, 03 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345032