https://www.taxtmi.com/caselaws?id=189070 The ITAT upheld the CIT(A)'s decision to delete the addition of interest on NPAs, emphasizing the precedence of RBI guidelines over the Income Tax Act provisions for cooperative banks. The ITAT referenced judicial precedents to support the conclusion that interest on NPAs should be recognized on a receipt basis due to the doubtful recovery of the principal amount. The appeal filed by the revenue was dismissed, affirming the CIT(A)'s order. en-us Mon, 30 Nov 2015 00:00:00 +0530 Tue, 27 Dec 2016 15:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189070 The ITAT upheld the CIT(A)'s decision to delete the addition of interest on NPAs, emphasizing the precedence of RBI guidelines over the Income Tax Act provisions for cooperative banks. The ITAT referenced judicial precedents to support the conclusion that interest on NPAs should be recognized on a receipt basis due to the doubtful recovery of the principal amount. The appeal filed by the revenue was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189070