Case Law Details
Case Name : UCO Bank Vs CIT (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
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UCO Bank Vs CIT (Supreme Court of India)
We have to consider whether interest on a loan whose recovery is doubtful and which has not been recovered by the assessee-bank for the last three years but has been kept in a suspense account and has not been brought to the profit and loss account of the assessee, can be included in the income of the assessee for the assessment year 1981-82. It is the case of the assessee that in respect of loans which are advanced by it to various customers, recovery of some loans is very doubtful.
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