https://www.taxtmi.com/caselaws?id=376719 The High Court ruled in favor of the appellant, holding that interest on non-performing assets (NPA) should not be taxed on an accrual basis when following RBI guidelines. The court emphasized that income must be taxed once accrued, and interest on NPAs with low recovery possibilities cannot be considered accrued income. The order disallowing the deduction for uncharged interest on NPA was set aside, and the appellant's claim was allowed. en-us Thu, 07 Mar 2019 00:00:00 +0530 Fri, 13 Aug 2021 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376719 The High Court ruled in favor of the appellant, holding that interest on non-performing assets (NPA) should not be taxed on an accrual basis when following RBI guidelines. The court emphasized that income must be taxed once accrued, and interest on NPAs with low recovery possibilities cannot be considered accrued income. The order disallowing the deduction for uncharged interest on NPA was set aside, and the appellant's claim was allowed. Case-Laws Income Tax Thu, 07 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376719