https://www.taxtmi.com/caselaws?id=394720 The High Court upheld the decision of the lower authorities and rejected the Revenue's appeal regarding the interpretation of provisions of section 43D of the I.T. Act, 1961. The Court aligned with previous judgments and legislative amendments, ruling that accrued interest on bad debts, doubtful debts, and Non-performing Assets not received by the institution cannot be taxed. The High Court emphasized the consistency with the Coordinate Bench's interpretation and legislative intent behind the amendment to Section 43D, ultimately concluding that such accrued interest should not be considered as income for taxation purposes. en-us Tue, 07 Jan 2020 00:00:00 +0530 Wed, 22 Apr 2020 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394720 The High Court upheld the decision of the lower authorities and rejected the Revenue's appeal regarding the interpretation of provisions of section 43D of the I.T. Act, 1961. The Court aligned with previous judgments and legislative amendments, ruling that accrued interest on bad debts, doubtful debts, and Non-performing Assets not received by the institution cannot be taxed. The High Court emphasized the consistency with the Coordinate Bench's interpretation and legislative intent behind the amendment to Section 43D, ultimately concluding that such accrued interest should not be considered as income for taxation purposes. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394720