https://www.taxtmi.com/caselaws?id=355927 The Court dismissed the revenue's appeal challenging the ITAT's decision on accrued interest on loans classified as Non-performing Assets for the assessment year 2011-12. Relying on precedents, the Court held that non-performing assets do not yield income, thus not subject to tax liability. When an asset becomes non-performing, it stops generating income, leading to the conclusion that tax liability does not arise. The judgment affirmed the treatment of non-performing assets as assets that do not generate income, resulting in the dismissal of the appeal and upholding the ITAT's decision on the matter. en-us Mon, 29 Jan 2018 00:00:00 +0530 Tue, 20 Feb 2018 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355927 The Court dismissed the revenue's appeal challenging the ITAT's decision on accrued interest on loans classified as Non-performing Assets for the assessment year 2011-12. Relying on precedents, the Court held that non-performing assets do not yield income, thus not subject to tax liability. When an asset becomes non-performing, it stops generating income, leading to the conclusion that tax liability does not arise. The judgment affirmed the treatment of non-performing assets as assets that do not generate income, resulting in the dismissal of the appeal and upholding the ITAT's decision on the matter. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355927