https://www.taxtmi.com/caselaws?id=9396 HC held that an Assessing Officer rightly disallowed a Rs.30 lakh provision for non-performing assets debited to the profit and loss account, affirming the Tribunal and CIT(A). The court ruled an RBI direction to provide for NPAs cannot override section 36(1)(viia) of the Income-tax Act, which limits deduction for provisions for bad and doubtful debts (predominantly revenue/trade related) and does not extend to provisions for NPAs, which are of a predominantly capital nature. en-us Wed, 26 Oct 2005 00:00:00 +0530 Fri, 19 Sep 2025 22:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9396 HC held that an Assessing Officer rightly disallowed a Rs.30 lakh provision for non-performing assets debited to the profit and loss account, affirming the Tribunal and CIT(A). The court ruled an RBI direction to provide for NPAs cannot override section 36(1)(viia) of the Income-tax Act, which limits deduction for provisions for bad and doubtful debts (predominantly revenue/trade related) and does not extend to provisions for NPAs, which are of a predominantly capital nature. Case-Laws Income Tax Wed, 26 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9396