https://www.taxtmi.com/caselaws?id=444906 ITAT Amritsar dismissed revenue's appeal regarding interest receivable on Non-Performing Assets, upholding CIT(A)'s decision based on RBI guidelines and AS-9 accounting standards. However, regarding net claim adjustments through Memorandum of Changes by statutory auditors, ITAT set aside CIT(A)'s order for failure to adjudicate properly due to assessee's non-compliance with Rule 46-A for additional evidence admission. Matter remanded to CIT(A) for fresh adjudication with proper enquiry, verification, and adequate hearing opportunity to assessee following natural justice principles. en-us Thu, 22 Jun 2023 00:00:00 +0530 Thu, 26 Oct 2023 07:38:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444906 ITAT Amritsar dismissed revenue's appeal regarding interest receivable on Non-Performing Assets, upholding CIT(A)'s decision based on RBI guidelines and AS-9 accounting standards. However, regarding net claim adjustments through Memorandum of Changes by statutory auditors, ITAT set aside CIT(A)'s order for failure to adjudicate properly due to assessee's non-compliance with Rule 46-A for additional evidence admission. Matter remanded to CIT(A) for fresh adjudication with proper enquiry, verification, and adequate hearing opportunity to assessee following natural justice principles. Case-Laws Income Tax Thu, 22 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444906