Toyota Financial: ITAT Directs Re-Adjudication on Taxability of NPAs’ Interest

Toyota Financial Services India Ltd. Vs ACIT (ITAT Bangalore) 

Introduction: The case of Toyota Financial Services India Ltd. vs ACIT (ITAT Bangalore) pertains to the taxability of interest income from Non-Performing Assets (NPAs). Toyota Financial filed an appeal against the CIT(Appeals) order concerning the assessment year 2017-18, disputing the treatment of interest income and the levy of interest under section 234C of the Income Tax Act.

Detailed Analys

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