2021 (7) TMI 637

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....i 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 rectification order as the provision for outst....

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....e 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 should be reduced while computing the book profits fo....