https://www.taxtmi.com/caselaws?id=305575 The appeal by the Revenue against the disallowance of derecognized interest amounting to Rs. 1,39,95,558 for the assessment year 2010-11 was dismissed. The Assessing Officer's addition to the total income was deleted by the ld. CIT(A) based on the assessee's explanation and consistent favorable rulings in previous assessment years. The ITAT upheld this decision, emphasizing the assessee's adherence to accounting principles and past rulings in their favor. The appeal by the Revenue was consequently dismissed by the ITAT, affirming the deletion of the addition. en-us Mon, 22 Jan 2018 00:00:00 +0530 Tue, 13 Dec 2022 10:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305575 The appeal by the Revenue against the disallowance of derecognized interest amounting to Rs. 1,39,95,558 for the assessment year 2010-11 was dismissed. The Assessing Officer's addition to the total income was deleted by the ld. CIT(A) based on the assessee's explanation and consistent favorable rulings in previous assessment years. The ITAT upheld this decision, emphasizing the assessee's adherence to accounting principles and past rulings in their favor. The appeal by the Revenue was consequently dismissed by the ITAT, affirming the deletion of the addition. Case-Laws Income Tax Mon, 22 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305575