https://www.taxtmi.com/caselaws?id=467122 Treatment of interest on non-performing assets hinges on RBI prudential norms and binding precedents: accrued but unrecoverable interest shown separately in bank accounts is not recognised as taxable income until realised, and was allowed in favour of the assessee. Provisions for robbery and fraud were not conclusively found to be current-year allowable business expenses; the matter is remitted to the assessing officer for fresh factual determination and opportunity to produce evidence. Charges for shortfalls in reserve maintenance were treated as deductible business expenditure rather than non-deductible penalties, following jurisdictional precedents, and allowed for the assessee. en-us Fri, 21 Feb 2025 00:00:00 +0530 Thu, 05 Mar 2026 15:27:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467122 Treatment of interest on non-performing assets hinges on RBI prudential norms and binding precedents: accrued but unrecoverable interest shown separately in bank accounts is not recognised as taxable income until realised, and was allowed in favour of the assessee. Provisions for robbery and fraud were not conclusively found to be current-year allowable business expenses; the matter is remitted to the assessing officer for fresh factual determination and opportunity to produce evidence. Charges for shortfalls in reserve maintenance were treated as deductible business expenditure rather than non-deductible penalties, following jurisdictional precedents, and allowed for the assessee. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467122