https://www.taxtmi.com/caselaws?id=356443 Interest accrued on non-performing assets of a co-operative bank was held not taxable until actually realised, applying the jurisdictional High Court view that sticky advances governed by RBI prudential norms and the CBDT circular do not warrant accrual-based taxation. The tribunal noted the issue was identical to the assessee's earlier year and that the Revenue's relied-upon decision had been distinguished on facts. Following the binding precedent, the accrued interest on NPAs was not liable to disallowance, and the Revenue's challenge failed. en-us Wed, 28 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356443 Interest accrued on non-performing assets of a co-operative bank was held not taxable until actually realised, applying the jurisdictional High Court view that sticky advances governed by RBI prudential norms and the CBDT circular do not warrant accrual-based taxation. The tribunal noted the issue was identical to the assessee's earlier year and that the Revenue's relied-upon decision had been distinguished on facts. Following the binding precedent, the accrued interest on NPAs was not liable to disallowance, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356443