https://www.taxtmi.com/caselaws?id=294228 The ITAT Pune dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of interest accrued on NPAs for the assessment year 2011-12. The Tribunal upheld the non-taxability of such interest income for cooperative banks under the mercantile system, aligning with RBI guidelines and the Bombay HC's stance, emphasizing established precedents. en-us Mon, 04 Jul 2016 00:00:00 +0530 Tue, 12 Nov 2024 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294228 The ITAT Pune dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of interest accrued on NPAs for the assessment year 2011-12. The Tribunal upheld the non-taxability of such interest income for cooperative banks under the mercantile system, aligning with RBI guidelines and the Bombay HC's stance, emphasizing established precedents. Case-Laws Income Tax Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294228