NPA norms of RBI are not binding on tax authorities

IN THE ITAT LUCKNOW BENCH ‘A’ Hamirpur District Co-operative Bank Ltd. v. Deputy Commissioner of Income-tax IT Appeal Nos. 114 & 115 (Lkw.) of 2012 [Assessment Years 2007-08 & 2008-09] Date of Pronouncement – September 6, 2012 ORDER Sanjay Arora, Accountant Member This is a set of two Appeals by the Assessee, i.e., in the quantum and penalty proceedings, albeit for different years, being assessment years (AYs) 2007-2008 and 2008-2009 respectively, challenging the disposal of its respective appeals by the Commissioner of Income-tax (Appeals)-II, Kan...