https://www.taxtmi.com/caselaws?id=305573 The court allowed the applications for condonation of delay and exemption applications. The court granted leniency in condoning the delay and recognized valid reasons for exemption. In the appeal against the ITAT order, the court ruled against the Revenue on the derecognition of interest on NPAs based on settled precedents, favoring the assessee. The Revenue's success on the provision for doubtful debts issue was not challenged, leading to a decision in favor of the assessee on the derecognition of interest issue. The court's decision demonstrates a thorough analysis of legal precedents in resolving the appeal. en-us Mon, 19 May 2014 00:00:00 +0530 Tue, 13 Dec 2022 08:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305573 The court allowed the applications for condonation of delay and exemption applications. The court granted leniency in condoning the delay and recognized valid reasons for exemption. In the appeal against the ITAT order, the court ruled against the Revenue on the derecognition of interest on NPAs based on settled precedents, favoring the assessee. The Revenue's success on the provision for doubtful debts issue was not challenged, leading to a decision in favor of the assessee on the derecognition of interest issue. The court's decision demonstrates a thorough analysis of legal precedents in resolving the appeal. Case-Laws Income Tax Mon, 19 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305573