ASSISTANT COMMISSIONER OF INCOME TAX AKOLA CIRCLE , AKOLA vs. AKOLA URBAN CO-OPRATIVE BANK LTD , AKOLA
In the result, appeal filed by the Revenue is dismissed
ITA 119/NAG/2020[2015-16]Status: DisposedITAT Nagpur25 Oct 2024AY 2015-16
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Dharan Gandhi a/wFor Respondent: Shri Sandipkumar Salunke
Section 143(3)Section 36(1)(viia)Section 40
79,321/- in contravention to provisions of section 36(1)(viia) of the Act.
2. On the facts and circumstances of the case and in law, the Ld.
CIT(Appeals) has erred in treating revaluation of assets by Asset
Reconstruction Company of NPA as loss or bad debts written off without appreciating the facts of the case.
2
The Akola
