https://www.taxtmi.com/caselaws?id=252971 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 1,05,61,520/- on account of interest accrued on NPAs. It ruled in favor of the assessee, a cooperative bank, stating that the income on NPAs should be recognized on an actual receipt basis as per RBI guidelines, rather than following a Hybrid System of Accounting. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s order, concluding that the interest on NPAs should not be included in the assessee's income in the year of accrual. en-us Thu, 30 Oct 2014 00:00:00 +0530 Mon, 10 Nov 2014 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252971 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 1,05,61,520/- on account of interest accrued on NPAs. It ruled in favor of the assessee, a cooperative bank, stating that the income on NPAs should be recognized on an actual receipt basis as per RBI guidelines, rather than following a Hybrid System of Accounting. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s order, concluding that the interest on NPAs should not be included in the assessee's income in the year of accrual. Case-Laws Income Tax Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252971