Home Highlights August 2016 Year 2016 This

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

2. Interest accrued on NPA - whether non-performing assets in the hands of the assessee- Cooperative Banks is taxable on accrual basis or not? - interest on NPA's is...

3. Income recognition - interest income on 'non-performing assets' - AS 9 - For AY 2004-05 it is to be seen is whether the assessee has got non-performing asset in terms of...

4. Accrual of interest - receivable or not actually received - unless and until an assessee shows that a loan or advance had become a non-performing asset, there can be no...

5. Accrual of income - addition on account of accrued interest on NPA account as income - the assessee had adequately established that the interest received during the year...

6. Taxability of interest on non-performing assets (NPA) u/s 43D - Interest received during the year - when it accrued, was exempt but interest income was embedded in the...

7. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

8. Addition of interest - accrual of interest - Inter-corporate deposits - it cannot be said that interest has accrued to the assessee during the year when the...

9. Accrued interest on non-performing assets(NPA) - merely because for accounting purpose, the assessee was to follow RBI guidelines it would not mean that the assessee was...

10. Deduction under Sec. 80P - Claim of NPA - Recovery from accounts classified as “Non-Performing Assets” (NPA) - claim of deduction was declined by them for the reason...

11. Restraint from declaring the account of the petitioner as a Non-Performing Asset (NPA) - effects of COVID-19 pandemic. - The classification of the account of the...

12. 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...

13. Case basis of accounting - Accrual of interest income - the stand of the assessee of offering interest income from Kisan Vikas Patra on cash basis cannot be held as incorrect - AT

14. The assessee (Co-operative Bank) was justified in not recognizing interest income from non-performing assets in consonance with the notification issued by the RBI and...

15. As per CBDT circular and section 45Q of the RBI and prudential Norms issued by the RBI interest income could not be accured on Non Performing Assets (NPA) by Banks as...