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2015 (9) TMI 795 - AT - Income TaxAddition on account of interest receivables on sticky advances - CIT(A) deleted the addition - whether the assessee being a non scheduled bank could not take the benefit of section 43D of the Income Tax Act, 1961? - Held that:- As decided in Lokmangal Co-op Bank Ltd. case [2014 (12) TMI 345 - ITAT PUNE] Pune Bench of the Tribunal in the case of Osmanabad Janata Sahari Bank Ltd (2015 (3) TMI 886 - ITAT PUNE) has decided an identical issue in favour of the assessee after considering the decision of the Hon’ble Supreme Court in the case of Southern Technologies Ltd. [2010 (1) TMI 5 - SUPREME COURT OF INDIA] to finally held that the interest income relatable to NPA advances did not accrue to the assessee) which has been followed by the Ld.CIT(A). Interest on the sticky advances/NPA advances cannot be brought to tax . - Decided in favour of assessee.
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