Supreme Court · 1999 INSC 248 · Decided 13 May 1999
Uco Bank, Calcutta v. Commissioner of Income Tax, West Bengal
- Court
- Supreme Court of India
- Citation
- 1999 INSC 248 · [1999] 3 S.C.R. 635
- Case number
- CIVIL APPEAL No. 235/1996
- Decided
- 13 May 1999
- Bench
- SUJATA V. MANOHAR, R.C. LAHOTI, D.P. MOHAPATRA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 145an, 119, 145
Headnote
Income Tax Act, 1961-Sections 145and119-Interest-Accrual of- A B On loans advanced by the bank whose recovery is doubtful-Interest not recovered by the bank for the last three years-Bank keeping the interest in C a suspense account and not bringing to its profit and loss accounts-Held, by virtue account cannot be included in the taxable income of the bank-Such method of accounting is in accordance with the accounting practice followed by the bank-Central Board of Direct taxes, Circular No.F 20Il21184 TTA-11 dated D 09. l 0. 1984. Issuance of circulars-By Central Board of Direct
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)