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2011 (9) TMI 1029
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....ppellant : Shri V.L.N. Sudhakar For the Respondent : Shri T. Diwakar Prasad ORDER PER CHANDRA POOJARI, A.M. These are cross appeals preferred by the assessee as well as the Revenue are directed against the order passed by the CIT(A) -V, Hyderabad dated 31.8.2007 and pertains to the assessment year 2004-05. 2. The assessee raised the following grounds in its appeal in ITA No.1028/H/2....
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....view of the above grounds and such other grounds that may be urged at the time of hearing the assessee prays for the allowance of the claims and delete the additions. 6. The assessee craves leave to add alter or delete any of the grounds at the time of hearing the appeal. 3. The Revenue raised the following grounds in its appeal in ITA No.1059/H/2007: 1. The CIT(A) erred in ho....
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....we will take up the assessee appeal. The crux of the above grounds are with regard to recognition of interest income on non performing asset (NPA). 5. We have heard both the parties and perused the materials available on record. Both the parties are fairly conceded that this issue was rightly considered by the Hon'ble'ble Madras High Court in the case of T.N. Power Finance and Infrastructure De....
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....e judgement of the Madras High Court, we are inclined to decide the issue in dispute in favour of the department. Accordingly the grounds raised by the assessee are dismissed and in the result, the assessee appeal dismissed. 7. Now coming to the Revenue appeal in ground Nos.1 & 2 as referred above, these grounds have become infructuous as we held in the assessee's appeal that interest income on....