https://www.taxtmi.com/caselaws?id=403924 The tribunal held that the provisions of Section 43D, as amended, should be applied to co-operative banks, allowing interest on NPAs to be taxed only when actually received or credited. The tribunal found that the assessee, a co-operative bank, is eligible for benefits under Section 43D even before the effective date of the amendment. Relying on precedent and RBI guidelines, the tribunal directed the Assessing Officer to delete the addition of Rs. 15,04,061, resulting in the allowance of the assessee's appeal. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 10 Feb 2021 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403924 The tribunal held that the provisions of Section 43D, as amended, should be applied to co-operative banks, allowing interest on NPAs to be taxed only when actually received or credited. The tribunal found that the assessee, a co-operative bank, is eligible for benefits under Section 43D even before the effective date of the amendment. Relying on precedent and RBI guidelines, the tribunal directed the Assessing Officer to delete the addition of Rs. 15,04,061, resulting in the allowance of the assessee's appeal. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403924