https://www.taxtmi.com/caselaws?id=305582 The Tribunal dismissed the Revenue's appeals against the deletion of disallowance of interest income on Non Performing Assets for assessment years 2011-12 & 2012-13. Relying on a High Court decision in favor of the assessee on a similar issue, the Tribunal upheld the Ld. CIT(A)'s order, citing no illegality or infirmity. The decision was based on legal precedent favoring the assessee regarding derecognition of interest income on NPAs, ensuring consistency with past judicial interpretations and the legal framework, ultimately benefiting the assessee. en-us Mon, 08 Apr 2019 00:00:00 +0530 Tue, 13 Dec 2022 17:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305582 The Tribunal dismissed the Revenue's appeals against the deletion of disallowance of interest income on Non Performing Assets for assessment years 2011-12 & 2012-13. Relying on a High Court decision in favor of the assessee on a similar issue, the Tribunal upheld the Ld. CIT(A)'s order, citing no illegality or infirmity. The decision was based on legal precedent favoring the assessee regarding derecognition of interest income on NPAs, ensuring consistency with past judicial interpretations and the legal framework, ultimately benefiting the assessee. Case-Laws Income Tax Mon, 08 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305582