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Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

Whether the Tribuanl was right in holding that the income from ...

Income Tax

October 30, 2014

Whether the Tribuanl was right in holding that the income from non-performing assets should be assessed on cash basis and not on mercantile basis despite the assesee maintain mercantile system of accounting - held Yes - HC

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  3. De-recognized interest on accrual basis on Non-Performing assets (NPA) - interest income from NPAs should be recognised only on actual receipt. - AT

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