Interest on advance given to NPA entity cannot be brought to tax as income really not accrued

DCIT Vs Rare Enterprises (ITAT Mumbai) ITAT Mumbai held that interest on advance given to entity how became Non Performing Asset (NPA) cannot be brought to tax since the income is really not accrued to the assessee. Accordingly, addition is rightly deleted by CIT(A). Facts- The Assessee had advanced Rs.30 Crore to M/s. DHARTI DREDGING & INFRASTRUCTURE LTD. During financial year 2017-18 Dharti became a Non Performing Asset (an NPA) thus, assessee did not receive any interest from it for the year ended 31st March 2018, relevant to Assessment Year 2018-19. Dharti on 08.11.2018 however, paid T...