https://www.taxtmi.com/caselaws?id=359587 The High Court dismissed the revenue's appeal, upholding the Tribunal's decision to delete additions for accrued interest on loans classified as non-performing assets. It was established that tax should only be paid on income actually received from non-performing assets, not on notionally accrued income. The Court emphasized that once an asset is non-performing and ceases to yield income, tax should only be recognized upon actual receipt. The appeal was dismissed under Section 260A of the Income Tax Act, in line with previous decisions emphasizing the treatment of income from non-performing assets. en-us Mon, 05 Feb 2018 00:00:00 +0530 Wed, 02 May 2018 06:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359587 The High Court dismissed the revenue's appeal, upholding the Tribunal's decision to delete additions for accrued interest on loans classified as non-performing assets. It was established that tax should only be paid on income actually received from non-performing assets, not on notionally accrued income. The Court emphasized that once an asset is non-performing and ceases to yield income, tax should only be recognized upon actual receipt. The appeal was dismissed under Section 260A of the Income Tax Act, in line with previous decisions emphasizing the treatment of income from non-performing assets. Case-Laws Income Tax Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359587