ITAT Directs Reassessment of Interest for Non-Performing Assets Loans

Belur Urban Co-operative Bank Ltd. Vs ITO (ITAT Bangalore) 

Introduction: The recent order by the Income Tax Appellate Tribunal (ITAT) Bangalore in the case of Belur Urban Co-operative Bank Ltd. vs ITO addresses a crucial aspect of interest income on Non-Performing Assets (NPAs). The ITAT directed readjudication, emphasizing the need for a thorough examination by the Assessing Officer (AO). This article delves into the details of the ITAT Bangalore order, shedding light on the intricacies of the case

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