Case Law Details
Case Name : PCIT Vs The Kangra Central Co-op Bank Ltd. (Himachal Pradesh High Court)
Related Assessment Year :
Courts :
All High Courts Himachal Pradesh HC
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PCIT Vs The Kangra Central Co-op Bank Ltd. (Himachal Pradesh High Court)
Himachal Pradesh High Court held that Co-operative Bank is liable to tax the interest on the sticky loans/NPAs on receipt basis
Facts-
The assessee is a non-scheduled bank. The assessing officer noted that the assessee had not credited/recognized interest on NPAs, although, it was following mercantile system of accounting.
Notice was issued t
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