https://www.taxtmi.com/caselaws?id=273641 The High Court dismissed the Revenue's appeal regarding the treatment of interest on Non Performing Assets (NPAs) under Section 260A of the Income Tax Act, 1961. The Court upheld the assessee's position, relying on precedents such as CIT v. Vasisth Chay Vyapar Ltd. (2011) 330 ITR 440 and CIT v. GE Countrywide Consumer Financial Service Limited. The judgment emphasizes the importance of consistent legal interpretation and adherence to established precedents in tax matters, resulting in the dismissal of the appeals. en-us Wed, 08 Feb 2017 00:00:00 +0530 Fri, 06 Jul 2018 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273641 The High Court dismissed the Revenue's appeal regarding the treatment of interest on Non Performing Assets (NPAs) under Section 260A of the Income Tax Act, 1961. The Court upheld the assessee's position, relying on precedents such as CIT v. Vasisth Chay Vyapar Ltd. (2011) 330 ITR 440 and CIT v. GE Countrywide Consumer Financial Service Limited. The judgment emphasizes the importance of consistent legal interpretation and adherence to established precedents in tax matters, resulting in the dismissal of the appeals. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273641