https://www.taxtmi.com/caselaws?id=414594 Income recognition on non-performing assets was governed by RBI prudential norms, which prevailed by virtue of section 45Q of the Reserve Bank of India Act, so accrual taxation of such interest was not required. Amortisation of premium on government securities held to maturity was permissible where RBI norms and CBDT guidance required or recognised spread-over-to-maturity treatment. Disallowance under section 14A read with rule 8D could not exceed exempt dividend income, so where the assessee had already disallowed an amount equal to that income, no further addition was warranted. en-us Mon, 25 Oct 2021 00:00:00 +0530 Thu, 11 Nov 2021 19:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414594 Income recognition on non-performing assets was governed by RBI prudential norms, which prevailed by virtue of section 45Q of the Reserve Bank of India Act, so accrual taxation of such interest was not required. Amortisation of premium on government securities held to maturity was permissible where RBI norms and CBDT guidance required or recognised spread-over-to-maturity treatment. Disallowance under section 14A read with rule 8D could not exceed exempt dividend income, so where the assessee had already disallowed an amount equal to that income, no further addition was warranted. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414594