Court Rules Non-Scheduled Banks Must Tax Interest on NPAs on Receipt Basis, Aligns with Section 43D Guidelines.

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....Interest accrued on non performing assets - Applicability of sec 43D - It serves no purpose that the assessee, which is a non-scheduled bank, should include the NPAs/sticky loans in the relevant assessment year and then claim it as a bad debt in the next assessment year. - the view taken by the Tribunal that the assessee was required to tax the interest on the sticky loans/NPAs on receipt basis, is liable to be upheld - HC....