https://www.taxtmi.com/caselaws?id=377934 The High Court dismissed the Revenue's appeal regarding the taxation of interest income on NPAs, upholding the Tribunal's decision that the special provision under Section 43D of the Income Tax Act applies to NBFCs. The Court found the Tribunal's decision aligned with RBI guidelines and established principles. Additionally, the Court upheld the Tribunal's deletion of the disallowance under Section 14A of the Income Tax Act, as the Assessing Officer had not properly justified rejecting the assessee's claim. The Court concluded that no legal question arose, resulting in the dismissal of the Income Tax Appeals. en-us Tue, 02 Apr 2019 00:00:00 +0530 Thu, 04 Apr 2019 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377934 The High Court dismissed the Revenue's appeal regarding the taxation of interest income on NPAs, upholding the Tribunal's decision that the special provision under Section 43D of the Income Tax Act applies to NBFCs. The Court found the Tribunal's decision aligned with RBI guidelines and established principles. Additionally, the Court upheld the Tribunal's deletion of the disallowance under Section 14A of the Income Tax Act, as the Assessing Officer had not properly justified rejecting the assessee's claim. The Court concluded that no legal question arose, resulting in the dismissal of the Income Tax Appeals. Case-Laws Income Tax Tue, 02 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377934