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of ITAT ruled on two issues: 1) Disallowance of contingent provision under 36(1)(viia)(d) as unascertained liability. AR cited new provision allowing NBFCs to make provision for bad debts up to 5% total income effective from 01.04.2017. AO & CIT(A) did not consider this. ITAT set aside addition for fresh assessment. 2) Cash received in demonetization period towards loan installment. AO failed to prove lack of depositor identity, transaction genuineness, and creditworthiness. Assessee provided depositor names and KYC details, which AO did not challenge. Citing precedent, ITAT ruled in favor of the assessee.
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