2012 (9) TMI 629

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..... was Rs.52,07,873/-, including interest. However, the decree in favour of the Bank was for Rs.42,45,477/- because that was the amount indicated as the outstanding amount due and payable by the assessee to the Bank in its Books of Account. It appears that the Bank has not calculated the interest over the years possibly for the reason that, in its Accounts, this amount was classified as 'NPA', thus .....

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..... their liability to the plaintiff-Bank in the sum of Rs.42,45,477/-, being the outstanding amount in the loan account of the Bank as on 30th April, 1982. However, it appears that, in the Books of Accounts of the assessee, the outstanding amount repayable to the Bank was Rs.52,07,873/- as on 30th April, 1982. Consequently, the Department came to the conclusion that there was waiver by the Bank to t .....

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