INCOME TAX OFFICER, WARD-1, JALNA, INCOME TAX OFFICE, JALNA vs. THE BEED DISTRICT CENTRAL CO-OP. BANK LTD., BEED

In the result, the appeal of the Revenue in ITA No

68,339.10 is not\nappearing on Liability side of the Balance Sheet under the heading\nReserves and Other Funds but is separately disclosed as Overdue Interest.\nSimilarly in the Profit and Loss Account the amount of Rs.47,01,85,366.04\n[being the interest on N.P.A. during the year] is not appearing under the\nheading Provisions but is debited under

SANJAY VASANTRAO WANI,,NASHIK vs. INCOME-TAX OFFICER,,

In the result, the appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.2491/Pun/2016 िनधा$रण वष$ / Assessment Year : 2012-13

68,670/-. Assessee did not maintain books of account exclusively for the Real Estate business. He however maintained books of account for the commission and 2 Sanjay Vasantrao Wani brokerage income. There is no dispute about the taxation of commission income. However, the dispute is about the income from Real Estate business. Considering the facts that the assessee