Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Accrual of income - addition on account of accrued interest on ...

Income Tax

September 11, 2022

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 as pertained to interest of those years when the assessee was accounting for the interest on accrual basis - No additions - AT

View Source

 


 

You may also like:

  1. 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

  2. Interest on NPA - interest on non performing assets is not taxable on accrual basis looking to the guidelines of the Reserve Bank of India - HC

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

  4. 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...

  5. Income - accrual - interest on sick advances - NPA - The apprehension or the situation foreseen by the assessee has been vindicated by the subsequent developments i.e....

  6. Accrual of income on government bonds - 8% GOI Bonds - interest for the period from 1/4/2006 to 31/3/2006 would only accrue on 30th June as per the scheme - AT

  7. Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

  8. Notional accrued interest on optionally fully convertible premium notes (OFCPNs) - it cannot be said that any income has accrued to he assessee on account of these...

  9. Accrual of interest liability - loans was classified as NPA - Assessee failed to prove that as per any agreement entered into by the assessee with the bank though the...

  10. Accrual of interest income - the directions with regard to the prudential norms issued by the Reserve Bank of India are equally applicable to the assessee as it is...

 

Quick Updates:Latest Updates