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2013 (9) TMI 1082 - AT - Income TaxInterest received from bad and doubtful debts (NPA) on actual receipt basis as per RBI guidelines - assessee is following mercantile system of accounting - Held that:- This case, nowhere it is disputed that on receipt basis the assessee is recognising the income that has been accepted by the AO in the past. Forfeited amount of dividend - whether not an income of the assessee u/s.28 - Held that:- Provision for dividend is made out of profit which has already suffered tax. Only the provision is reversed as per bye-laws of the cooperative society. In our opinion, the Ld.CIT(A) has rightly deleted the addition and no interference is called for from our side
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