Calculation of interest accrued on Non-Performing Assets as per Section 145 of the Income Tax Act

Last updated: 27 November 2021

Court :
High Court of Karnataka

Brief :
Appeal Filed by Revenue under section 260A of Income Tax Act ,1961

Citation :
ITA 205/2021

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 25TH DAY OF OCTOBER, 2021 PRESENT THE HON'BLE MRS.JUSTICE S.SUJATHA AND THE HON'BLE MR. JUSTICE E.S.INDIRESH I.T.A.No.248/2021 c/w I.T.A.No.235/2021 IN I.T.A.No.24812021: BETWEEN :
1 . THE PP COMMISSIONER OF INCOME TAX 5TH FLOOR, BMTC BUILDING 80 FEET ROAD, KORMANGALA BENGALURU - 560 095
2 . THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -1 PRESENT ADDRESS ACIT, CIRCLE -1(1)(1) 2ND FLOOR, BMTC BUILDING 80 FEET ROAD, KORAMANGALA BENGALURU - 560 095
(BY SRI K.V.ARAVIND, ADV.)
AND :
NI/s DAVANGERE DISTRICT CENTRAL CO-OPERATIVE BANK LTD., NG.311, A BLOCK, DEVARAJA URS LAYOUT P.B.ROAD, DAVANAGERE - 577 006 PAN: AAATD6617N
APPELLANTS
RESPONDENT
(BY SRI A.SHANKAR, SENIOR COUNSEL FOR SRI S.ANNAMALAI, ADV.)