https://www.taxtmi.com/caselaws?id=293450 Interest on sticky advances or non-performing assets of a co-operative bank was treated as taxable only on receipt, not on mere accrual, where the special statutory and circular framework and the real income principle applied. The Tribunal noted that coordinate bench decisions had already supported this approach, and that the assessee had not credited the amount to the profit and loss account. In the absence of contrary material, the addition made on that account was deleted and the revenue challenge failed. en-us Wed, 15 Jan 2014 00:00:00 +0530 Thu, 11 Feb 2021 20:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293450 Interest on sticky advances or non-performing assets of a co-operative bank was treated as taxable only on receipt, not on mere accrual, where the special statutory and circular framework and the real income principle applied. The Tribunal noted that coordinate bench decisions had already supported this approach, and that the assessee had not credited the amount to the profit and loss account. In the absence of contrary material, the addition made on that account was deleted and the revenue challenge failed. Case-Laws Income Tax Wed, 15 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293450