https://www.taxtmi.com/caselaws?id=460335 A binding CBDT circular dated 9 October 1984 governed the tax treatment of interest on bad and doubtful debts, so the earlier contrary position in State Bank of Travancore did not displace the view adopted in UCO Bank; the issue was resolved in favour of the assessee. The Court also accepted the assessee's position on interest paid for the broken period of Government securities, following its contemporaneous order in the connected matter, and directed deletion of the related additions. The Revenue's appeal therefore failed, and the High Court's answers for the assessee were sustained. en-us Tue, 12 Aug 2008 00:00:00 +0530 Mon, 20 Jan 2025 14:32:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460335 A binding CBDT circular dated 9 October 1984 governed the tax treatment of interest on bad and doubtful debts, so the earlier contrary position in State Bank of Travancore did not displace the view adopted in UCO Bank; the issue was resolved in favour of the assessee. The Court also accepted the assessee's position on interest paid for the broken period of Government securities, following its contemporaneous order in the connected matter, and directed deletion of the related additions. The Revenue's appeal therefore failed, and the High Court's answers for the assessee were sustained. Case-Laws Income Tax Tue, 12 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460335