2017 (2) TMI 1361

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..... Bhatia, Sr. Standing Counsel with Sh. Puneet Rai, Jr. Standing Counsel For the Respondent : Sh. Tushar Jarwal, Sh. Rahul Sateeja, Sh. Gautam Swarup and Sh. Siddhartha Singh, Advocates ORDER 08.02.2017 In this appeal by the Revenue under Section 260A of the Income Tax Act,1961, the question of law urged by the Revenue is with respect to the treatment of interest on Non Performing Assets (NPAs). .....

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..... pplied the rationale and law declared in Vasisth Chay (supra). This Court also notices that the assessee's method of treatment of such accrued interest was also subject matter of a previous order of this Court in CIT v. GE Countrywide Consumer Financial Service Limited [ITA 50/2016, decided on 29.01.2016]. The Court had affirmed the views of the ITAT which ruled in favour of the assessee. In view .....

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