2021 (7) TMI 637

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.... For the Revenue : Shri Priyadarshi Mishra, Addl. CIT(DR) ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against the order passed by the Ld.CIT(A)-14, Bangalore for assessment year 2009- 10. 2. It has been submitted that the Ld.CIT(A) passed order on the issues arising out of order section 154 by the Ld.AO. 2.1 He submitted that the Ld.AO passed....

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....be contingent liability. He submitted, that during the year under consideration the provision for derivative contract was written back since the same was disallowed and the previous year as a contingent liability. He submitted that, it ought to have been considered as deemed to be disallowed as an ascertained liability in assessment year 2008-09 even under MAT computation and accordingly the same ....

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.... not applicable to assessee in the asst. year 2008-09. However the argument of assessee to treat it as a deemed disallowance under MAT for asst. year 2008-09 can't be accepted. 3.2 We therefore do not find any infirmity in the view taken by the Ld.CIT(A) that any reversal of such provision in a subsequent assessment year was to be considered as usual treatment in tax, and the same does not fall....