2022 (12) TMI 528

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.... PER ANIL CHATURVEDI, AM: This appeal filed by the Revenue is directed against the order dated 10.06.2019 passed by the Commissioner of Income Tax (Appeals)-13, New Delhi relating to Assessment Year 2013-14. 2. Brief facts of the case as culled out from the material on record are as under:- 3. Assessee is a Non Banking Finance Company (NBFC) and is stated to be engaged in the business ....

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....n accrual basis even though the assessee company is following the mercantile system of accounting as per the provisions of section 145 of the IT Act, 1961. 2. The appellant craves leave for reserving the right of amend, modify, alter add or forgo any ground(s) of appeal at any time before or during the hearing of this appeal." 5. On the date of hearing none appeared on behalf of the as....

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....re made in assessee's own case in A.Y. 2009-10, 2010-11, 2011-12 & 2012- 13 and further the High Court decision in assessee's own case for A.Y. 2005-06, 2007-08 and 2008-09 was not acceptable to the Revenue on merits. AO thereafter by placing reliance on the decision of Hon'ble Apex Court in the case of Southern Technologies Ltd. held the derecognized interest amounting to Rs.36,51,19,893/- as inc....

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....er of CIT(A), Revenue is now before us. 8. Before us, Learned DR supported the order of lower authorities. 9. We have heard the Learned DR and perused the material available on record. The issue in the present ground is with respect to the addition made by derecognizing interest accrued on Non Performing Assets. We find that CIT(A) while deleting the addition has noted that on identical fact....