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. 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...

6. 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...

7. 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...

8. 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

9. Levy of GST - Place of supply - Tax imposed on exhibition services received by the petitioner in non-taxable territory from the person located in non-taxable territory...

10. 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...

11. 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...

12. Corporate debtor's account correctly declared as non-performing asset (NPA) due to failure to renew cash credit facilities and provide required financial documents for...

13. 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...

14. 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...

15. 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...