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TMI Blog2014 (10) TMI 740X X X X Extracts X X X X X X X X Extracts X X X X ..... riyuths. A. Shankar and M. Lava, Advocates JUDGMENT The revenue has preferred this appeal challenging the order passed by the order passed by the Tribunal holding that the assesse need not pay tax in respect of non-performing assets though the assesse is adopting mercantile system of accounting. 2. The substantial question of law which is raised in this appeal is :- "Whether the Tribuanl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot be a ground to avoid payment of tax. But, if in his account it is clearly stated though a particular income is due to him but it is not possible to recover the same, then it cannot said to have been accrued and the said amount cannot be brought to tax. In the Instant case we are concerned with a non-performing asset. As the definition of non-performing asset shows an asset becomes non-performin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue which has accrued notionally is without any basis. In that view of the matter, the second substantial question framed is answered against, the revenue and in favour of the assessee." 4. In that view of the matter, we do not see any merit in this appeal. The said question of law is answered in favour of the assesse and against the revenue. 5. However, it is submitted that the said judgment of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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