https://www.taxtmi.com/caselaws?id=760975 Interest on securities for a banking company on the mercantile system was taxable only when it legally accrued on the due dates, applying the real income principle, so the claim was decided for the assessee. Deduction for bad debts involving rural and non-rural advances required fresh examination to reconcile the general write-off rule with the special rural-advance provision and avoid double benefit, so the matter was remitted. Unclaimed balances remaining with the bank for more than three years did not, by themselves, become taxable income, and depreciation and amortisation claims relating to investment reclassification and held-to-maturity securities were allowed in line with recognised banking accounting principles. Share listing fees were held capital in nature because they related to expansion of capital base, so that claim failed. en-us Tue, 10 Sep 2024 00:00:00 +0530 Tue, 29 Oct 2024 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760975 Interest on securities for a banking company on the mercantile system was taxable only when it legally accrued on the due dates, applying the real income principle, so the claim was decided for the assessee. Deduction for bad debts involving rural and non-rural advances required fresh examination to reconcile the general write-off rule with the special rural-advance provision and avoid double benefit, so the matter was remitted. Unclaimed balances remaining with the bank for more than three years did not, by themselves, become taxable income, and depreciation and amortisation claims relating to investment reclassification and held-to-maturity securities were allowed in line with recognised banking accounting principles. Share listing fees were held capital in nature because they related to expansion of capital base, so that claim failed. Case-Laws Income Tax Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760975