https://www.taxtmi.com/caselaws?id=347430 The High Court upheld the Tribunal's decision in a tax appeal case involving accrued interest in non-performing accounts. The Court ruled that interest income on NPAs should not be considered as accrued income for taxation purposes, in line with Section 145 of the Income Tax Act and RBI guidelines. The decision was influenced by previous judgments and directives, dismissing the Revenue's arguments against the impact of RBI guidelines on taxable income computation. Ultimately, the Court affirmed the non-taxable nature of interest on NPAs based on established legal principles and precedents. en-us Wed, 23 Aug 2017 00:00:00 +0530 Mon, 04 Sep 2017 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347430 The High Court upheld the Tribunal's decision in a tax appeal case involving accrued interest in non-performing accounts. The Court ruled that interest income on NPAs should not be considered as accrued income for taxation purposes, in line with Section 145 of the Income Tax Act and RBI guidelines. The decision was influenced by previous judgments and directives, dismissing the Revenue's arguments against the impact of RBI guidelines on taxable income computation. Ultimately, the Court affirmed the non-taxable nature of interest on NPAs based on established legal principles and precedents. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347430