Provisions on Notional basis & not accrued liability not eligible for deduction

Advocate Akhilesh Kumar Sah

Kanaka Mahalakshmi Cooperative Bank case: Provision made on notional basis and not on account of accrued liability not eligible for deduction.

Recently, in the Kanaka Mahalakshmi Cooperative Bank Ltd. vs. ACIT & vice-versa [ITA Nos. 299 & 300/VIZ/2017 and ITA Nos. 326 & 327/VIZ/2017, (A.Y.: 2012-13 & 2013-14),

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