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of <h1>Karnataka HC dismisses Revenue's appeal on accrued interest on NPA loans, following precedent.</h1> <h3>THE COMMISSIONER OF INCOME TAX, ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, BIJAPUR Versus THE BILAGI PATTAN SAHAKARI BANKNIYAMITH</h3> The Karnataka HC dismissed Revenue's appeal on accrued interest on NPA loans, following precedent in favor of the Assessee, deeming the issue identical to ... Accrual of income - Accrued interest on loans classified as “Non-performing Assets” - Tribunal deleted the addition - HELD THAT:- As in THE URBAN CO-OPERATIVE BANK LIMITED [2014 (10) TMI 740 - KARNATAKA HIGH COURT] a Division Bench of this Court has answered the substantial questions of law in favour of the Assessee by following the earlier judgment in the case CANFIN HOMES LTD. [2011 (8) TMI 178 - KARNATAKA HIGH COURT]. - Decided against revenue. The Karnataka High Court dismissed the appeal by Revenue regarding the addition of accrued interest on loans classified as 'Non-performing Assets,' citing a previous judgment in favor of the Assessee. The issue was considered the same as in a previous case, leading to the dismissal of the appeal with no costs.
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