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2017 (5) TMI 1583 - HC - Income TaxTreatment of interest on Non Performing Assets (NPAs) - Revenue contends that given the obligation of the assessee to maintain books in accordance with Section 209 of the Companies Act, 1956 on accrual basis, it had to reflect the interest accrued upon unpaid loans (NPAs) - Held that:- Interest on sticky loans and advances could not be charged to tax - The issue stands covered in favour of the Assessee and against the Revenue. SEE GE MONEY FINANCIAL SERVICES PVT. LTD., VERSUS DCIT, CIRCLE-12 (1) , NEW DELHI. [2016 (7) TMI 1396 - DELHI HIGH COURT] and PR. COMMISSIONER OF INCOME TAX-4 VERSUS GE MONEY FINANCIAL SERVICES PVT. LTD. [2017 (2) TMI 1361 - DELHI HIGH COURT]
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