2006 (8) TMI 138

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.... "C", in I. T. A. No. 3968/D/02 relevant for the assessment year 1999-2000. The only question that has arisen is with regard to the decision of the Assessing Officer in adding the amount being the provision made by the assessee for bad and doubtful debts for the purposes of increasing book profits under section 115JA of the Income-tax Act. We find from the assessment order that the Assessing Offi....

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....eting liabilities other than ascertained liabilities. In the present case, there does not appear to be any dispute about the fact that the liability was ascertained. Ex facie, therefore, Explanation (c) is not applicable. The Commissioner of Income-tax (Appeals) also considered the provisions of Part III of Schedule VI to the Companies Act, which defines the term "provision", Clause 7(1)(a) there....