For your information

CA Shraddha (Mcom, CS Exe.) (Service) (224 Points)

22 December 2011  

Income – Method of Accounting-NPAs.

 

Income from non-performing assets should be assessed on cash basis and not on mercantile basis despite of the assessee maintaining accounts on mercantile basis.

 

CIT v. Canfin Homes Ltd. (2011) 201 Taxman 273 (Kar.) (High Court).

Regards,

Shraddha