Interest in respect of doubtful debts.

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..... account where there had been no recovery for three consecutive years could not be subjected to tax in the fourth year and onwards except for the actual amount of recovery, if any. 2.The Supreme Court, in their judgment dated 8.1.1986 in Civil Appeal No. 1860-1862 (NT) of 1978 in the case of State Bank of Travancore Vs. CIT Kerala, have held that interest charged on sticky advances and credited .....

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..... he scheduled banks (except the excluded category) and non-scneduled banks. 4.In view of the aforesaid, the Board have decided to withdraw with immediate effect the instruction (F. No. 201/21/84-ITA.II) issued on 9-10-1984. 5.This fact may be brought to the notice of all the officers working in your charge. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Manageme .....

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