https://www.taxtmi.com/caselaws?id=190753 The ITAT Delhi allowed the assessee's appeal and dismissed the Revenue's appeal in a case involving the addition of NPA provisions and disallowance of bad debts. The ITAT held that the reversal of NPA provisions did not constitute taxable income as the assessee had not claimed deduction on NPA provisions in earlier years and had claimed 100% deduction under section 80P(2) of the Income Tax Act. Additionally, the ITAT agreed that the assessee was eligible for deduction under section 36(1)(vii) on account of bad debts, leading to the dismissal of the Revenue's appeal. en-us Tue, 30 Aug 2011 00:00:00 +0530 Fri, 24 Feb 2017 18:16:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190753 The ITAT Delhi allowed the assessee's appeal and dismissed the Revenue's appeal in a case involving the addition of NPA provisions and disallowance of bad debts. The ITAT held that the reversal of NPA provisions did not constitute taxable income as the assessee had not claimed deduction on NPA provisions in earlier years and had claimed 100% deduction under section 80P(2) of the Income Tax Act. Additionally, the ITAT agreed that the assessee was eligible for deduction under section 36(1)(vii) on account of bad debts, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 30 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190753