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2020 (6) TMI 404 - AT - Income TaxDisallowance of Provision for Non-performing assets (NPA) u/s 36(1)(viia) - AO denied the assessee’s claim as assessee makes the provision under surmise and assumption that the debt will be bad in future and when it is actually lost, it claims it as bad debts written off and that is allowed, but no provision on unascertained liability can be allowed as a legitimate deduction from Income under the Act - HELD THAT:- As decided in SREI Infrastructure Finance Ltd. [2020 (1) TMI 490 - ITAT KOLKATA] the issue is squarely covered against the assessee by the decision of Apex Court in Southern Technologies Ltd. [2010 (1) TMI 5 - SUPREME COURT] . Respectfully, following the decision of Apex Court in Southern Technologies Ltd. (Supra), we dismiss the ground raised by the assessee.
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