https://www.taxtmi.com/caselaws?id=377530 The High Court dismissed the appeals, upholding the Tribunal's decisions on all issues. The Tribunal's decision regarding the taxability of interest income on Non-Performing Assets (NPA) was upheld, aligning with the Division Bench's prior decision. The appellant's argument on the applicability of RBI guidelines and Accounting Standards for determining real income was rejected. The Tribunal's ruling that provisions made for NPAs are not deductible was affirmed. The change in apportionment of income from Sum of Digits (SOD) method to Internal Rate of Return (IRR) method was deemed not for bona fide reasons. The treatment of software cost given on lease as capital in nature was upheld, and contingent deposits were treated as income. en-us Tue, 05 Mar 2019 00:00:00 +0530 Fri, 29 Mar 2019 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377530 The High Court dismissed the appeals, upholding the Tribunal's decisions on all issues. The Tribunal's decision regarding the taxability of interest income on Non-Performing Assets (NPA) was upheld, aligning with the Division Bench's prior decision. The appellant's argument on the applicability of RBI guidelines and Accounting Standards for determining real income was rejected. The Tribunal's ruling that provisions made for NPAs are not deductible was affirmed. The change in apportionment of income from Sum of Digits (SOD) method to Internal Rate of Return (IRR) method was deemed not for bona fide reasons. The treatment of software cost given on lease as capital in nature was upheld, and contingent deposits were treated as income. Case-Laws Income Tax Tue, 05 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377530