TMI Blog2021 (7) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... ack was reduced from the book profits for asst. year 2008- 09 cannot be allowed for the reason that the appellant was assessed to tax under the regular provisions of the act for assessment year 2008-09. It is also a fact that for assessment year 2008-09, AO made additions for the said provision under the normal provisions of the Act - MAT provisions were not applicable to assessee in the asst. yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DR) ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against the order passed by the Ld.CIT(A)-14, Bangalore for assessment year 2009- 10. 2. It has been submitted that the Ld.CIT(A) passed order on the issues arising out of order section 154 by the Ld.AO. 2.1 He submitted that the Ld.AO passed rectification order as the provision for outstand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the year under consideration the provision for derivative contract was written back since the same was disallowed and the previous year as a contingent liability. He submitted that, it ought to have been considered as deemed to be disallowed as an ascertained liability in assessment year 2008-09 even under MAT computation and accordingly the same should be reduced while computing the book profits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -09. However the argument of assessee to treat it as a deemed disallowance under MAT for asst. year 2008-09 can t be accepted. 3.2 We therefore do not find any infirmity in the view taken by the Ld.CIT(A) that any reversal of such provision in a subsequent assessment year was to be considered as usual treatment in tax, and the same does not fall within the ambit of overlooking of statutory pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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