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Income Tax

Income - accrual - interest on sick advances - NPA - The...

Court Rules Accrued Interest on Non-Performing Assets Should Be Deleted Following Companies' Liquidation Confirmation.

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Income TaxJune 13, 2012Case LawsAT

Income - accrual - interest on sick advances - NPA - The apprehension or the situation foreseen by the assessee has been vindicated by the subsequent developments i.e. all the companies have gone into liquidation. Addition made on account of accrued interest income is directed to be deleted. - AT

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