Calculation of interest accrued on Non-Performing Assets as per Section 145 of the Income Tax Act

Last updated: 27 November 2021
Quick Summary
This judgement clarifies the calculation of interest accrued on Non-Performing Assets (NPAs) in accordance with Section 145 of the Income Tax Act. It addresses the specific circumstances under which such interest can be considered for tax purposes, particularly when the asset has become non-performing. The High Court's decision provides important guidance for both taxpayers and tax authorities on the correct application of the law in these situations.

Court :
High Court of Karnataka

Brief :
Appeal Filed by Revenue under section 260A of Income Tax Act ,1961

Citation :
ITA 205/2021

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Published in Income Tax
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