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 August 2013 Year 2013 This

Accrual of interest on NPA - Scheduled Bank - Once the loans had ...

Case Laws     Income Tax

August 17, 2013

Accrual of interest on NPA - Scheduled Bank - Once the loans had become NPAs and the assessee had opted to account for the interest on such NPAs only on recovery of the same, the law recognizes such treatment of interest on NPAs as valid in view of the provisions of section 43D of the Act - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

  4. Disallowance on account of Principal NPA - Time Barred Interest on over-due NPA loan accounts - To avoid the double deduction, the proviso to section 36(1)(vii ) was...

  5. Accrual of income - interest due on NPA accounts - it is not in dispute that the assessee is a Co-operative Bank and covered under Non Scheduled Bank as per the Banking...

  6. Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to...

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

  8. TP Adjustment - Interest on interest outstanding/interest receivable - The interest on a loan is a compensation received towards the utilisation of funds given by the...

  9. Accrual of interest income - nonoperational sticky loans in respect of which mercantile actual of interest was shown in the suspense account and not the profit and loss...

  10. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

  11. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

  12. Deemed dividend u/s 2(22)(e) is not taxable in the hands of the assessee company if it is not a shareholder in the companies that extended loans. It is chargeable to tax...

  13. Deduction u/s 57 was disallowed for interest income from savings bank account and interest from Thangamayil Jewellery Limited, classified under "other sources". The...

  14. Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount...

  15. The account of the borrower was classified as a Non-Performing Asset (NPA) on the relevant date. The transfer of the financial asset by the State Bank of India (SBI) to...

 

Quick Updates:Latest Updates