https://www.taxtmi.com/caselaws?id=302602 Bank income recognition is examined through the real income principle and applicable RBI norms, with several timing and deductibility issues addressed. Section 14A disallowance was held unsustainable for interest expenditure where own funds were sufficient, while administrative expenditure required fresh examination. Securitisation gain could be deferred and amortised over the SPV life, and bank guarantee commission could be recognised pro rata over the guarantee period. Interest on sticky or NPA advances was not taxable on accrual basis under banking income-recognition norms. Lease operating expense revision under AS-19 was disallowed because the liability had not accrued under tax law. Capital gains on a residential flat did not arise without effective transfer, and prior-period fees were allowed while additional cess and ESOP claims were remitted for verification. en-us Thu, 28 Oct 2021 00:00:00 +0530 Wed, 08 Jun 2022 07:39:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302602 Bank income recognition is examined through the real income principle and applicable RBI norms, with several timing and deductibility issues addressed. Section 14A disallowance was held unsustainable for interest expenditure where own funds were sufficient, while administrative expenditure required fresh examination. Securitisation gain could be deferred and amortised over the SPV life, and bank guarantee commission could be recognised pro rata over the guarantee period. Interest on sticky or NPA advances was not taxable on accrual basis under banking income-recognition norms. Lease operating expense revision under AS-19 was disallowed because the liability had not accrued under tax law. Capital gains on a residential flat did not arise without effective transfer, and prior-period fees were allowed while additional cess and ESOP claims were remitted for verification. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302602