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2017 (6) TMI 352 - HC - Income TaxAddition on account of accrued interest on NPAs - Tribunal confirming the order of the CIT(A) which held that assessee bank is not liable to be taxed on the notional interest on non performing assets based upon the accrual accounting theory - interest on NPAs non taxable on accural basis - Held that:- This very question came to be considered at length and decided by the Division Bench of this Court in the case of Principal Commissioner of Income-tax-5 v. Shri Mahila Sewa Sahakari Bank Ltd. [ 2016 (8) TMI 377 - GUJARAT HIGH COURT ] holding that interest on non performing assets is not taxable on accrual basis looking to the guidelines of the Reserve Bank of India - Decided in favour of assessee.
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