https://www.taxtmi.com/caselaws?id=374611 The High Court held that section 43D of the Income Tax Act applies to cooperative banks, extending its scope to include them. Interest on Non Performing Assets (NPA) in cooperative banks was deemed non-taxable based on legal precedents and legislative intent. The Court also dismissed the allowance of amortized premium on investments in Government Securities as revenue expenditure. All appeals challenging these issues were rejected by the High Court, relying on real income theory and established legal principles. en-us Tue, 29 Jan 2019 00:00:00 +0530 Tue, 17 Nov 2020 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374611 The High Court held that section 43D of the Income Tax Act applies to cooperative banks, extending its scope to include them. Interest on Non Performing Assets (NPA) in cooperative banks was deemed non-taxable based on legal precedents and legislative intent. The Court also dismissed the allowance of amortized premium on investments in Government Securities as revenue expenditure. All appeals challenging these issues were rejected by the High Court, relying on real income theory and established legal principles. Case-Laws Income Tax Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374611