320 ITR

Sec. 36(1)(vii), Sec. 36(1)(Viia), Sec. 37(1), Sec. 43D, Section 145, Section 36

S.C : Whether the Department is entitled to treat the ‘provision for NPA’, which in terms of RBI Directions 1998 is debited to the P&L a/c, as ‘income’ under s. 2(24) of the IT Act, 1961 (“IT Act” for short), while computing the profits and gains of the business under ss. 28 to 43D of the IT Act ?

Supreme Court Of India Southern Technologies Ltd. vs. JCIT Section 36(1)(vii), 36(1)(viia), 37(1), 43D, 145, Art. 14, Art. 19(1)(g), Reserve

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