Dismissing the appeal of the revenue the Tribunal held  that the assessee had shown provision for diminution in value of investment and provision for non-performing assets which were debited to the profit and loss account. Both provisions had been written back during the year and credited in the profit and loss account under the head “Miscellaneous income”. This showed that they were not only a mere creation of “provision for diminution in investments” and “provision for non-performing assets” by debiting the profit and loss account but simultaneously the corresponding amounts shown on the assets side of the balance-sheet were also reduced or adjusted. In other words, the investments and loans and advances in the assets side recorded in the books were net of the provision. Thus, the provisions for diminution in investments and non-performing assets would amount to an actual “write-off” of the provisions from the assets side and therefore would not attract clause (i) of Explanation 1 below section 115JB(2) of the Act.(AY.2002-03)