{"id":15532,"date":"2021-03-09T20:50:09","date_gmt":"2021-03-09T15:20:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/bhind-district-co-operative-central-bank-ltd-v-income-tax-department-2019-177-dtr-196-309-ctr-316-2020429-itr-121-mp-hc\/"},"modified":"2021-03-09T20:50:09","modified_gmt":"2021-03-09T15:20:09","slug":"bhind-district-co-operative-central-bank-ltd-v-income-tax-department-2019-177-dtr-196-309-ctr-316-2020429-itr-121-mp-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bhind-district-co-operative-central-bank-ltd-v-income-tax-department-2019-177-dtr-196-309-ctr-316-2020429-itr-121-mp-hc\/","title":{"rendered":"Bhind District Co-Operative Central Bank Ltd. v Income-Tax Department (2019) 177 DTR 196\/309 CTR 316\/ (2020)429 ITR 121 (MP) (HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Court held that , since the assessee was acting under the directives of the Reserve Bank of India with regard to prudential norms set out, taxing interest on non-performing assets could not be justified on the real income theory. The Tribunal was not justified in holding that interest on non-performing assets was taxable on accrual basis.( AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43D : Public financial institutions -Accrual of  income \u2014 Non-Banking financial company \u2014Interest on non-performing assets \u2014 Cannot be assessed on accrual basis . [ S. 36(1) (vii), 36(1)(viia) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15532","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-42w","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15532"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15532\/revisions"}],"predecessor-version":[{"id":15533,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15532\/revisions\/15533"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}