Reversal of Interest on NPA by NBFC to comply with RBI’s direction cannot be questioned

IN THE ITAT DELHI BENCH ‘A’ Deputy Commissioner of Income-tax Versus Bhartiya Samruddhi Finance Ltd. IT Appeal Nos. 100 To 103 (Delhi) Of 2010 And 2308 & 5642 (Delhi) Of 2011 [Assessment Years 2004-05 To 2008-09] Date of Pronouncement – November 23, 2012 ORDER A.D. Jain, Judicial Member These are appeals filed by the department for Assessment Years 2004-05 to 2008-09. In ITA Nos.100 & 102/Del/2010 and in ITA Nos.2308 & 5642/Del/2011, the department has taken the common ground of appeal, which reads as under:- “In the facts and circumstances...