Interest on NPAs Not Accrued if Unreceived Due to Uncontrollable Circumstances, Court Rules in Favor of Appellant.

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....Income recognition - Interest on NPA - Citing a judgment of the Delhi High Court, affirmed by the Supreme Court, the High Court concluded that if interest on NPAs is not received due to circumstances beyond the control of the assessee, it cannot be deemed to have accrued. The Court highlighted that under the RBI Act and Prudential Norms, interest income cannot be considered as accrued when NPAs are involved. Therefore, the Court ruled in favor of the appellant.....