2017 (4) TMI 1266

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..... that assessee is a co-operative bank and is governed by the Reserve Bank of India guidelines. We find that ld.CIT(A) after considering the CBDT Circular, provisions of Act and various decisions cited in the order has held that A.O. was not justified in disallowing the claim of deduction on the issue of interest on overdue loans. We find that Hon'ble Bombay High Court in the case of CIT vs. Deogiri .....

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..... ppeals)-3, Rajkot [CIT(A) in short] dated 11/02/2015 for the Assessment Year (AY) 2010-11. 2. The grounds of appeal raised by the Revenue read as under:- a) The CIT(A) has erred in deleting the addition made by AO on account of interest accrued on NPA despite the fact that section 43D of the I.T.Act does not apply in case of the assessee. b) Without prejudice to the above, CIT(A) has erred in .....

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..... AYs 2007-08 to 2009-10 as pointed out on behalf of the assessee. The relevant operative para of the order of the ITAT-Rajkot in assessee's own case relevant to AYs 2007-08 to 2009-10 as noted above reads as under:- "8. We have heard the rival submissions and perused the material on record. The issue in the present case is with respect to provision of overdue interest on NPA accounts. It .....

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