2018 (10) TMI 1509

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....el ORDER AJAY KUMAR MITTAL, J. 1. This appeal has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 21.9.2017 (Annexure-4) passed by the Income Tax Appellate Tribunal, Chandigarh Benches 'A', Chandigarh (hereinafter referred to as "the Tribunal") in ITA No. 749/CHD/2017, for the assessment year 2010- 11, claiming ....

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....r on the facts and in the circumstances of the case, the Hon'ble ITAT, Chandigarh is justified in deleting the addition of Rs.  2,67,88,000/- made by the Assessing Officer on account of interest accrued on non performing assets by accepting the assessee's hybrid system of accounting one for sticky loans and another for non-sticky loans contrary to the provisions of Section 145 of the ....

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....13,14,050/- as against the returned income of Rs.  4,45,26,050/- by making an addition of Rs.  2,67,88,000/- on account of non-crediting of interest on Non-Performing Assets (NPA) in the Profit and Loss account by the assessee. The case of the assessee of the relevant year was reopened on the ground that the assessee had not made any disallowance out of interest payment to other cooperat....