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2017 (11) TMI 916 - HC - Income TaxAddition u/s. 36(1)(viia) - Held that:- Entire issue is covered by the judgment of this Court in case of Shri Mahila Sewa Sahakari Bank Ltd. (2016 (8) TMI 377 - GUJARAT HIGH COURT). In the said case, the Court has considered following substantial question of law: “Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law and on facts in holding that interest on non performing assets is not taxable on accrual basis looking to the guidelines of the Reserve Bank of India ?” The Court answered the question in favour of the assessee and concurred with the view of the Delhi High Court in case of Vasisth Chay Vyapar Ltd.(2010 (11) TMI 88 - Delhi High Court). In the said decision, contrary to what was argued before us by the counsel for the Revenue, the Court had not only noticed but also referred to at some length the judgment of the Supreme Court in case of Southern Technologies Limited (2010 (1) TMI 5 - SUPREME COURT OF INDIA).- Decided in favour of the assessee and against the Revenue
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