2024 (8) TMI 1661

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r Patel ORDER PER VINAY BHAMORE, JM: This is recalled matter. Vide order dated 12.06.2024 in M.A. No. 258/PUN/2023 for the assessment year 2018-19 filed against the order of the Tribunal in ITA No. 86/PUN/2023 dated 24.03.2023 (appeal filed by the assessee) was recalled for limited purpose to adjudicate the ground no.2 in respect of NPA provision of Rs. 42,51,668/- debited in the Profit &....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cer during course of assessment proceedings. It was therefore submitted that the taxable income of the assessee will not increase even if the NPA provision of Rs. 42,51,668/- is disallowed & added back to the income of the assessee, because the resultant business income will again qualify for chapter VIA deduction u/s 80P(2)(a)(i) of the IT Act. It was therefore requested before the bench to set-a....