2025 (4) TMI 1973

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....tanding Counsel for Dept. (DR) ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the assessee against the order passed by the NFAC, Delhi dated 14/11/2023 in ITA No. ITBA/NFAC/S/250/2023- 24/1057939467(1) for the assessment year 2016-17. 2. The only issue raised by the assessee is that the learned CIT-A erred in not allowing the benefit of deduction under section 80....

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....h recalled order, the present appeal is before us for adjudication whether the disallowance made by the AO on account of provisions made by the assessee will result the enhanced deduction under the provisions of section 80P of the Act. In other words, the assessee has claimed the deduction for the provisions made in the profit and loss account amounting to Rs. 7,80,650/- for the items detailed bel....

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.... on account of disallowance of expenses. 6. On the other hand, the learned DR could not controvert the arguments advanced by the ld. AR for the assessee. However, the learned DR vehemently supported the order of the authorities below 7. We have heard the rival contentions of both the parties and perused the materials available on record. The CBDT circular No. 37/2016 dated 2 November 2016 ha....