1995 (11) TMI 33

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..... ade at the instance of the Revenue, the Income-tax Appellate Tribunal has referred the following question of law for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the assessee is not liable to be taxed in respect of the amount credited to the 'Interest Suspense Account' representing interest recoverable on 'sticky loans and advances' and which is not t .....

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..... in CIT v. Citibank N. A. [1994] 208 ITR 930 applies and not the decision of the Supreme Court in State Bank of Travancore v. CIT [1986] 158 ITR 102. We have pointed out to learned counsel that in the decision of this court the assessee had not credited any amount of interest to its account on loans advanced to certain parties and had maintained the account of those parties on the cash system and i .....

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