https://www.taxtmi.com/caselaws?id=305575 Interest on non-performing assets was held not to be taxable on a pure accrual basis where an NBFC followed regulatory prudential norms and the cash system for such interest was accepted as legal, valid and bona fide under the CBDT circular. The Tribunal also relied on the fact that the same treatment had already been accepted in the assessee's own earlier assessment years, giving the issue finality. On that basis, the disallowance of derecognised interest could not be sustained and the deletion was upheld. en-us Mon, 22 Jan 2018 00:00:00 +0530 Tue, 13 Dec 2022 10:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305575 Interest on non-performing assets was held not to be taxable on a pure accrual basis where an NBFC followed regulatory prudential norms and the cash system for such interest was accepted as legal, valid and bona fide under the CBDT circular. The Tribunal also relied on the fact that the same treatment had already been accepted in the assessee's own earlier assessment years, giving the issue finality. On that basis, the disallowance of derecognised interest could not be sustained and the deletion was upheld. Case-Laws Income Tax Mon, 22 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305575