Taxability of Interest on NPAs and Stick Loans

By | February 27, 2016
(Last Updated On: February 27, 2016)

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD

INCOME TAX APPEAL NO. 53 OF 2014

THE COMMISSIONER OF INCOME TAX, AURANGABAD

VERSUS

M/S. DEOGIRI NAGARI SAHAKARI BANL LTD,AURANGABAD

Held

Interest on NPAs and Stick Loans, even if accrued as per the mercantile system of accounting by a bank, is not taxable as per prudential norms

Download Complete judgement :DEOGIRI NAGARI SAHAKARI BANL LTD

Direct Taxes Ready ReckonerService Tax Ready ReckonerCompany Law Ready Reckonertax deduction at source
New Books Released on Tax , GST and law

One thought on “Taxability of Interest on NPAs and Stick Loans

  1. Pingback: Interest on accident compensation is Tax free | Tax Heal

Leave a Reply

Your email address will not be published. Required fields are marked *