Tag Archives: Interest income on NPA

Interest on NPA taxable on receipt basis : kolkata ITAT

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM & Hon’ble Sri M.Balaganesh, AM] ITA No.464/Kol/2008 Assessment Year : 2001-02 A.C.I.T., Circle-6, Vs West Bengal Infrastructure Development Finance Corporation, Kolkata Facts of the Case The assessee had not recognized as income interest that has to receive on loans that it… Read More »