Case Law Details
Case Name : DCIT Vs The Vaish Cooperative Adarsh Bank Ltd. (ITAT Delhi)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Delhi
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The facts emanating from the order of the AO and the submissions of the assessee is that the assessee is a Co-operative Bank and is engaged in banking business and the assessee was claiming deduction u/s 80P(2)(a)(i) up to AY 2006-07 @ 100%. It is submitted that the assessee has claimed the interest income amount of Rs 4,04,16,564/- as interest income from the NPA (Non-performing assets) but since the loans/principal amounts have become bad the assessee has neither received the loan amount nor the interest income. The assessee has treated the interest amount as
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