THE COMMISSIONER OF INCOME TAX, MANGALORE AND THE JOINT COMMISSIONER OF INCOME TAX, ASSESSMENT Vs. M/S. ICDS LIMITED

JUDGEMENT

(1.) THIS appeal is preferred by the revenue challenging the order passed by the Tribunal pertaining to the assessment year 1999 - 2000. The substantial questions of law which arise for consideration in this appeal are as under:

(2.) WHETHER non -performing asset is a provision made towards asset or can it be considered as provision made for meeting the liability more particularly when nomenclature itself suggests it as an asset?