ITAT deletes addition for interest accrued on non-performing assets

ACIT Vs Davangere District Central Co-operative Bank Ltd (ITAT Bangalore) Introduction: The legal battle between ACIT and Davangere District Central Co-operative Bank Ltd reached its pinnacle at ITAT Bangalore. The core issue revolved around the addition made by the AO concerning interest accrued on non-performing assets (NPA). The CIT(A) stepped in, citing authoritative judgments, and ruled in favor of the bank. This article delves into the specifics of the case, the arguments presented, and the pivotal judgments that influenced the outcome. Detailed Analysis: In the assessment years 2011-12 ...