https://www.taxtmi.com/caselaws?id=289919 Interest on NPAs of a co-operative bank was held not taxable on accrual basis where the bank had not recognised such interest as income in accordance with RBI prudential norms and section 45Q of the RBI Act, so notional accrual could not be forced merely because section 43D of the Income-tax Act did not apply. The deduction for provision for bad and doubtful debts under section 36(1)(viia) was remitted for fresh verification of the rural advances computation. Ex-gratia paid to employees not covered by the Bonus Act was allowed as business expenditure. The gratuity-related payment to LIC was also remitted for fresh consideration due to inadequate findings. en-us Fri, 03 Mar 2017 00:00:00 +0530 Sun, 30 Aug 2020 13:28:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289919 Interest on NPAs of a co-operative bank was held not taxable on accrual basis where the bank had not recognised such interest as income in accordance with RBI prudential norms and section 45Q of the RBI Act, so notional accrual could not be forced merely because section 43D of the Income-tax Act did not apply. The deduction for provision for bad and doubtful debts under section 36(1)(viia) was remitted for fresh verification of the rural advances computation. Ex-gratia paid to employees not covered by the Bonus Act was allowed as business expenditure. The gratuity-related payment to LIC was also remitted for fresh consideration due to inadequate findings. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289919