The assessee claimed deduction of provisions created towards “incurred but not reported” (IBNR) and “incurred but not enough reported” (IBNER) claims. Following the decision in the assessee’s own case for earlier years, the Tribunal held that such provisions represented unascertained liabilities and were not allowable under section 37(1). However, the disallowance was directed to be restricted only to the amount actually debited to the profit and loss account. Following its earlier decisions in the assessee’s own case, the Tribunal upheld the disallowance of amortisation of premium paid on purchase of securities  (AY. 2020-21).