https://www.taxtmi.com/caselaws?id=189290 The Tribunal dismissed the Revenue's appeal for the Assessment Year 2009-10, upholding the CIT(A)'s decision on the treatment of interest income by the co-operative bank and the applicability of section 43D of the Income Tax Act to co-operative banks. The Tribunal ruled that interest income from non-performing assets should not be taxed on an accrual basis for co-operative banks, aligning with established legal principles and previous court decisions. The importance of following proper accounting practices and relevant legal provisions in determining tax liability for financial institutions like co-operative banks was emphasized in the judgment. en-us Fri, 13 Feb 2015 00:00:00 +0530 Thu, 05 Jan 2017 10:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189290 The Tribunal dismissed the Revenue's appeal for the Assessment Year 2009-10, upholding the CIT(A)'s decision on the treatment of interest income by the co-operative bank and the applicability of section 43D of the Income Tax Act to co-operative banks. The Tribunal ruled that interest income from non-performing assets should not be taxed on an accrual basis for co-operative banks, aligning with established legal principles and previous court decisions. The importance of following proper accounting practices and relevant legal provisions in determining tax liability for financial institutions like co-operative banks was emphasized in the judgment. Case-Laws Income Tax Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189290