Held that Inter-Corporate Deposits (ICDs) had become Non-Performing Assets (NPAs) as per Prudential Norms issued by RBI, on which no interest was received and possibility of recovery was almost nil, it could not be treated to have accrued to assessee. (AY. 2019-20)
Kotak Mahindra Bank Ltd. v. DCIT (2025) 211 ITD 608 (Mum) (Trib.)
S. 5 : Scope of total income-Inter-Corporate Deposits (ICDs)-Non-Performing Assets (NPAs) as per Prudential Norms issued by RBI-Possibility of recovery is almost nil-Cannot not be treated to have accrued to assesse. [S.4 43D]
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