M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE
C.A. No.-001337-001337 - 2003Supreme Court11 Jan 2010
Section 145Section 2(24)Section 36(1)(vii)Section 37Section 37(1)
7), 43B, 40 and 40A.
Such disallowances alone could be added back to the taxable income. The
IT Act does not disallow a provision for NPA; that, unless the “provision for
NPA” is specifically disallowed under the IT Act, the same cannot be added
back and, hence, such a provision for NPA cannot be added back in
computing the taxable