https://www.taxtmi.com/caselaws?id=361997 The Tribunal ruled in favor of the assessee in a case concerning eligibility for deductions under section 80P(2)(a)(i) of the Income Tax Act and the treatment of accrued interest on NPA accounts. The Tribunal allowed the deduction claimed by the assessee, emphasizing compliance with statutory provisions and past precedents. Additionally, the Tribunal upheld the decision to delete the addition related to accrued interest on NPA accounts, stating that such income was not earned due to the NPA classification of borrower accounts. The judgment highlighted the importance of proper appreciation of facts and adherence to the requirements for claiming deductions under the IT Act. en-us Mon, 11 Jun 2018 00:00:00 +0530 Mon, 18 Jun 2018 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361997 The Tribunal ruled in favor of the assessee in a case concerning eligibility for deductions under section 80P(2)(a)(i) of the Income Tax Act and the treatment of accrued interest on NPA accounts. The Tribunal allowed the deduction claimed by the assessee, emphasizing compliance with statutory provisions and past precedents. Additionally, the Tribunal upheld the decision to delete the addition related to accrued interest on NPA accounts, stating that such income was not earned due to the NPA classification of borrower accounts. The judgment highlighted the importance of proper appreciation of facts and adherence to the requirements for claiming deductions under the IT Act. Case-Laws Income Tax Mon, 11 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361997