https://www.taxtmi.com/caselaws?id=302370 For banks, interest on non-performing assets was held taxable only on actual receipt, applying the real income theory and RBI prudential norms; section 145 could not override that income-recognition framework, so the Revenue's addition failed. The Tribunal also held that a provision qualifying under section 36(1)(viia) for bad and doubtful debts was allowable even where it related to standard assets, because the deduction is available to the specified banking category and is not confined by that asset classification. The assessee succeeded on both issues and the Revenue's appeal was dismissed. en-us Wed, 03 Jan 2018 00:00:00 +0530 Sun, 22 May 2022 15:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302370 For banks, interest on non-performing assets was held taxable only on actual receipt, applying the real income theory and RBI prudential norms; section 145 could not override that income-recognition framework, so the Revenue's addition failed. The Tribunal also held that a provision qualifying under section 36(1)(viia) for bad and doubtful debts was allowable even where it related to standard assets, because the deduction is available to the specified banking category and is not confined by that asset classification. The assessee succeeded on both issues and the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 03 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302370