Non-Performing Asset Classification Means No Tax on Notional Income, Even Under Hybrid Accounting System.

Non-Performing Asset Classification Means No Tax on Notional Income, Even Under Hybrid Accounting System. https://www.taxtmi.com/highlights?id=38732 Interest income - When a particular asset is shown to be NPA, the assumption is that it is not yielding any revenue; and there is no reason that the assessee be subjected to tax on the alleged notional income, even if it has adopted hybrid system of accounting. - HC en-us Tue, 03 Apr 2018 21:07:51 +0530 Tue, 03 Apr 2018 21:07:51 +0530 TaxTMI RSS Generator Non-Performing Asset Classification Means No Tax on Notional Income, Even Under Hybrid Accounting System. https://www.taxtmi.com/highlights?id=38732 Interest income - When a particular asset is shown to be NPA, the assumption is that it is not yielding any revenue; and there is no reason that the assessee be subjected to tax on the alleged notional income, even if it has adopted hybrid system of accounting. - HC Highlights Income Tax Tue, 03 Apr 2018 21:07:51 +0530 https://www.taxtmi.com/highlights?id=38732