https://www.taxtmi.com/caselaws?id=356041 The Court dismissed the appeal challenging the ITAT's order on accrued interest on loans classified as Non-performing Assets for the assessment year 2012-13. It held that tax should only be paid on income actually received, particularly in the case of non-performing assets, as clarified in previous decisions. Therefore, when an asset is classified as non-performing, it does not yield revenue, and the obligation to pay tax does not arise. en-us Mon, 29 Jan 2018 00:00:00 +0530 Wed, 15 Aug 2018 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356041 The Court dismissed the appeal challenging the ITAT's order on accrued interest on loans classified as Non-performing Assets for the assessment year 2012-13. It held that tax should only be paid on income actually received, particularly in the case of non-performing assets, as clarified in previous decisions. Therefore, when an asset is classified as non-performing, it does not yield revenue, and the obligation to pay tax does not arise. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356041