https://www.taxtmi.com/caselaws?id=407715 The Court upheld the Tribunal's decision regarding the interpretation and treatment of provisions for Non-Performing Assets (NPAs) debited to the Profit & Loss Account for the Assessment Year 2010-11. It affirmed that the provision for NPAs was in line with Reserve Bank of India guidelines, and the Commissioner of Income Tax (Appeals) and Tribunal's findings were upheld. The Court also supported the treatment of the provision as bad and doubtful debts under Section 36(1)(viia) of the Income Tax Act, dismissing the appeal in favor of the assessee. en-us Fri, 05 Feb 2021 00:00:00 +0530 Wed, 19 May 2021 08:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407715 The Court upheld the Tribunal's decision regarding the interpretation and treatment of provisions for Non-Performing Assets (NPAs) debited to the Profit & Loss Account for the Assessment Year 2010-11. It affirmed that the provision for NPAs was in line with Reserve Bank of India guidelines, and the Commissioner of Income Tax (Appeals) and Tribunal's findings were upheld. The Court also supported the treatment of the provision as bad and doubtful debts under Section 36(1)(viia) of the Income Tax Act, dismissing the appeal in favor of the assessee. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407715