DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -IV, KAPURTHALA vs. M/S PUNJAB GRAMIN BANK, KAPURTHALA
ITA 731/ASR/2017[2014-15]Status: DisposedITAT Amritsar05 Apr 2019AY 2014-15
Bench: Shri N.K. Saini & Shri Ravish Sood
For Appellant: Shri Ranjan Sehgal, A.RFor Respondent: Smt. Parvinder Kaur, C.I.T, D.R
Section 143(3)Section 260ASection 36(1)(viia)Section 40Section 43B
section 36(1)(viia) only provision for bad and doubtful debts was allowable as deduction.
6. That while allowing the relief of Rs. 3,53,47,000/-, Ld. CIT(A) has failed to appreciate that it was a contingent liability and was not allowable as business expenditure. The
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ITA No. 784 & 731/Asr./2017
