https://www.taxtmi.com/caselaws?id=196177 The ITAT dismissed all three appeals of the Revenue, affirming that the provision for overdue interest on NPAs made by the Co-operative Bank in compliance with RBI guidelines should not be disallowed. Taxing such interest on an accrual basis without actual receipt would be contrary to the principles of real income and legislative intent. The appeals for subsequent assessment years 2008-09 and 2009-10 were also dismissed based on identical facts and circumstances. en-us Thu, 28 Apr 2016 00:00:00 +0530 Tue, 21 Nov 2017 10:18:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196177 The ITAT dismissed all three appeals of the Revenue, affirming that the provision for overdue interest on NPAs made by the Co-operative Bank in compliance with RBI guidelines should not be disallowed. Taxing such interest on an accrual basis without actual receipt would be contrary to the principles of real income and legislative intent. The appeals for subsequent assessment years 2008-09 and 2009-10 were also dismissed based on identical facts and circumstances. Case-Laws Income Tax Thu, 28 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196177