Interest on Non-perfoming assets ::

Court :
HC

Brief :
Held by the Hon`ble Court that, the principle of accrual comes in to play only when income is recognised, income from non-performing assets in consonance with notification issued by R.B.I. and A.S. 9 issued by the I.C.A.I. will be taxable in the appropriate assessment year on the basis of actual receipt.

Citation :
C.I.T. Vs. Llgi Finance Ltd.

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

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3 Years PLAN

4999

(Excl. of GST ₹899)

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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