Assessability of interest on sticky loans. - Income Tax - 1715/CBDT

INSTRUCTION NO. 1715/CBDT Dated: June 20, 1986 In State Bank of Travancors Vs. CIT, Kerala (1986) 158 ITR 102 the Supreme Court has upheld the assessability of interest on sticky loans (credited to interest suspense accounts) in the cases of banks and financial institutions. Commissioners are requested to prepare list of all the cases on this issue pending before the High Courts/ITAT etc. in their charge and move the concerned Court/Tribunal for their expeditious disposal in the light of the Supreme Court's judgement.