Saturday, September 22, 2018

Interest on NPAs not taxable on accrual basis, though bank was following mercantile accounting system

IT: Where assessee, a co-operative bank, even though followed mercantile system of accounting, yet it was not liable to be taxed on notional interest on non-performing assets based upon accrual accounting theory

from www.taxmann.com Latest Case Laws https://ift.tt/2PT4QgX
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