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2017 (1) TMI 1533 - AT - Income TaxTaxability of interest on loans categorized as NPA’s/sticky loans - whether on accrual basis as contended by the Revenue or on receipt basis as claimed by the assessee? - Held that:- In the case of The Ludhiana Central Co-op. Bank Ltd. (2015 (6) TMI 1100 - ITAT CHANDIGARH), the decision rendered therein would squarely apply to the present cases, following which we hold that the interest on sticky loans/NPA’s has to be taxed on receipt basis. We, therefore, uphold the order of the CIT(A) and dismiss the ground raised by the Revenue.
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