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The Tax Publishers2019 TaxPub(DT) 5430 (Chen-Trib) INCOME TAX ACT, 1961
Section 36(1)(vii)
Provision for bad debts in respect of non-rural branches had to be allowed as bad debts written off under section 36(1)(vii).
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Business deduction under section 36(1)(vii) - Bad debts - Provision for bad debts in respect of non-rural branches -
Assessee-bank claimed that provision for bad debts in respect of non-rural branches had to be allowed as bad debts written off under section 36(1)(vii). AO denied this.Held: Provision for bad debts in respect of non-rural branches had to be allowed as bad debts written off under section 36(1)(vii).
Relied:Vijaya Bank (2010) 323 ITR 166 (SC) : 2010 TaxPub(DT) 1825 (SC) & Catholic Syrian Bank Ltd. (2012) 343 ITR 270 (SC) : 2012 TaxPub(DT) 1623 (SC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2008-09 & 2012-13
INCOME TAX ACT, 1961
Section 32(1)
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