Commissioner Of Income Tax Del v. India Lease Dev. Ltd.

$~47 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 14/2007 COMMISSIONER OF INCOME TAX DELHI ..... Petitioner Through: Mr. Ruchir Bhatia, Sr. Standing Counsel. versus INDIA LEASE DEV.LTD.

..... Respondent Through: None.

CORAM:

HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE NAJMI WAZIRI

O R D E R

% 16.03.2017 The following question of law was framed for consideration by the Court on 11.10.2007: - "Whether provision for non-performing assets (NPAs) as per the RBI guidelines is a provision made for meeting unascertained liabilities within the meaning of Explanation (c) to Section 115JA(2) of the Income Tax Act, 1961?"

The question of law has been answered by ruling of this Court in CIT v. Vashisht Chay Vyapar Ltd., 330 ITR 440 (Del.). Following that decision, the question of law framed in this case has to be answered against the Revenue; the appeal is, therefore, dismissed.

S. RAVINDRA BHAT, J NAJMI WAZIRI, J MARCH 16, 2017/vikas/