2014 (9) TMI 1057

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..... ax (1984 (7) TMI 66 - ANDHRA PRADESH High Court) and held that it is an allowable deduction. Deduction towards staff fraud - Held that:- Tribunal is correct in deleting the disallowance made by the Assessing Officer in respect of the expenditure claimed on the provision for staff frauds as an allowable business expenditure.
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..... 13 passed by the Income Tax Appellate Tribunal, Hyderabad Bench 'A' in relation to the Assessment Year 2007-08. The following are the suggested questions of law: (a) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law, in upholding the order of the Commissioner of Income Tax (Appeals) in allowing Broken Period interest claimed as expenditure by ov .....

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..... finding that the interest income did not accrue to the assessee on Non-Performing Assets during the year in spite of specific provisions in Section 43D of the Income Tax Act, 1961? Learned counsel for the Revenue did not press questions (b) and (d) and only advanced arguments on the other two questions. Perusal of the order under appeal reflects that insofar as the issue of broken period interest .....

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