https://www.taxtmi.com/caselaws?id=312350 Interest on sticky or doubtful advances credited to a suspense account remained taxable under the CBDT circular regime and the Income-tax Act, 1961, because RBI income-recognition norms could not override tax computation provisions; the addition was therefore sustained. Amortisation of premium on investment securities was not allowable, as the premium formed part of acquisition cost and no provision permitted annual deduction merely because of RBI accounting treatment; the disallowance was sustained. Contribution to Zila Sahkari Sangh was allowable as a statutory payment under the applicable co-operative societies law; the deduction was allowed. en-us Mon, 30 May 2011 00:00:00 +0530 Tue, 13 Feb 2024 12:54:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312350 Interest on sticky or doubtful advances credited to a suspense account remained taxable under the CBDT circular regime and the Income-tax Act, 1961, because RBI income-recognition norms could not override tax computation provisions; the addition was therefore sustained. Amortisation of premium on investment securities was not allowable, as the premium formed part of acquisition cost and no provision permitted annual deduction merely because of RBI accounting treatment; the disallowance was sustained. Contribution to Zila Sahkari Sangh was allowable as a statutory payment under the applicable co-operative societies law; the deduction was allowed. Case-Laws Income Tax Mon, 30 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312350