2017 (2) TMI 1361

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..... Held that:- Assessee successfully contended before the ITAT that the treatment it accorded to such transactions was in accord with the decision of this Court in CIT v. Vasisth Chay Vyapar Ltd. (2010 (11) TMI 88 - DELHI HIGH COURT) as held Assessee bound by Reserve Bank of India directions to treat deposit as non-performing asset – Interest does not accrue - question of law decided against the Rev .....

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..... al 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). The assessee filed its returns for AYs 2006-07, 2007-08 and 2008-09. It was submitted to scrutiny by the Transfer Pricing Officer (TPO) based on whose report a draft assessment order was made. The assessee carried .....

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