https://www.taxtmi.com/caselaws?id=370099 The court dismissed the appeals, ruling in favor of the assessee-Cooperative Banks. It upheld that interest on Non-Performing Assets (NPAs) should be taxed on a receipt basis, aligning with RBI guidelines and the "real income" theory. The court affirmed the overriding effect of RBI guidelines under Section 45Q of the RBI Act, 1934, and clarified the applicability of Section 43D in light of the legislative amendment effective from 1.4.2018. en-us Mon, 24 Sep 2018 00:00:00 +0530 Fri, 11 Jan 2019 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370099 The court dismissed the appeals, ruling in favor of the assessee-Cooperative Banks. It upheld that interest on Non-Performing Assets (NPAs) should be taxed on a receipt basis, aligning with RBI guidelines and the "real income" theory. The court affirmed the overriding effect of RBI guidelines under Section 45Q of the RBI Act, 1934, and clarified the applicability of Section 43D in light of the legislative amendment effective from 1.4.2018. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370099