2015 (12) TMI 1833 - HC - Income Tax

Accrual of income - Accrued interest on loans classified as Non-performing Assets - Tribunal deleted the addition - HELD THAT - As in THE URBAN CO-OPERATIVE BANK LIMITED 2014 (10) TMI 740 - KARNATAKA HIGH COURT a Division Bench of this Court has answered the substantial questions of law in favour of the Assessee by following the earlier judgment in the case CANFIN HOMES LTD. 2011 (8) TMI 178 - KARNATAKA HIGH COURT . - Decided against revenue.

Summary

The Karnataka High Court dismissed the appeal by Revenue regarding the addition of accrued interest on loans classified as "Non-performing Assets," citing a previous judgment in favor of the Assessee. The issue was considered the same as in a previous case, leading to the dismissal of the appeal with no costs.