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2014 (5) TMI 1225 - HC - Income TaxAccrual of income - Derecognition of interest on accrual basis on Non-Performing Assets (NPAs) - HELD THAT:- As the question of law is covered against the Revenue by two decisions, i.e. CIT v. Vasisth Chay Vyapar Ltd. and Anr. [2010 (11) TMI 88 - DELHI HIGH COURT] and DIT v. Brahmaputra Capital Finance Ltd. [2011 (5) TMI 321 - DELHI HIGH COURT] Provision for doubtful debts for NPAs - As far as the second aspect goes, we notice that the Revenue had succeeded before the ITAT in light of the judgment of the Supreme Court in Southern Technologies Ltd. [2010 (1) TMI 5 - SUPREME COURT] - The Revenue is not in appeal in respect of that question. Following the decision in Vasist Chay Vyapar Ltd. (supra) and Brahmaputra Capital Finance Ltd. (supra), the question of law urged by the Revenue is answered against it and in favour of the assessee.
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