https://www.taxtmi.com/caselaws?id=358520 Interest on non-performing assets of a co-operative bank was not taxable on accrual where RBI prudential norms governed income recognition; by applying section 45Q of the Reserve Bank of India Act, the Tribunal treated such interest as accruing only on actual receipt and deleted the addition. For TDS default, payments for computerisation made without deduction under section 194C attracted disallowance under section 40(a)(ia), because the Supreme Court's interpretation in Palam Gas Service covers both amounts paid and amounts payable; the disallowance was upheld. en-us Fri, 06 Apr 2018 00:00:00 +0530 Fri, 13 Apr 2018 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358520 Interest on non-performing assets of a co-operative bank was not taxable on accrual where RBI prudential norms governed income recognition; by applying section 45Q of the Reserve Bank of India Act, the Tribunal treated such interest as accruing only on actual receipt and deleted the addition. For TDS default, payments for computerisation made without deduction under section 194C attracted disallowance under section 40(a)(ia), because the Supreme Court's interpretation in Palam Gas Service covers both amounts paid and amounts payable; the disallowance was upheld. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358520