https://www.taxtmi.com/caselaws?id=294168 The Tribunal upheld the CIT(A)'s decision in favor of the assessee for the Assessment Year 2008-09. The Tribunal dismissed the Revenue's appeal, affirming that interest income should be recognized on a receipt basis, not a hybrid system, and that provisions for NPAs are deductible as per RBI guidelines and judicial precedents. The order was pronounced on 3rd December 2014. en-us Wed, 03 Dec 2014 00:00:00 +0530 Wed, 24 Mar 2021 20:46:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294168 The Tribunal upheld the CIT(A)'s decision in favor of the assessee for the Assessment Year 2008-09. The Tribunal dismissed the Revenue's appeal, affirming that interest income should be recognized on a receipt basis, not a hybrid system, and that provisions for NPAs are deductible as per RBI guidelines and judicial precedents. The order was pronounced on 3rd December 2014. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294168