BARODA RAJASTHAN KHESTRIYA GRAMIN BANK,AJMER vs. PCIT, UDAIPUR
In the result, appeal of the assessee is allowed
ITA 253/JPR/2024[AY 2017-18]Status: DisposedITAT Jaipur22 Jul 2024
Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Judicial Member)
For Appellant: Sh. Shailesh Mantri, CAFor Respondent: Sh. Arvind Kumar, CIT-DR
Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 263
viia) read with Section 37 of the Income Tax Act, 1961. (e) As per CBDT Instruction No. 17/2008, it has been clearly laid down that provision of standard asset is a contingent liability and a contingent liability cannot constitute deductible expenditure for the propose of Income Tax
Act
(f) Further, perusal of assessment records reveals that you have claimed
Rs.137.05