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| The Tax Publishers2020 TaxPub(DT) 0581 (Bang-Trib) : (2020) 181 ITD 0672 : (2020) 079 ITR (Trib) 0207 INCOME TAX ACT, 1961
Section 36(1)(viia)
Deduction on account of Provision for Bad and Doubtful Debts under section 36(1)(viia) could be allowed only to the extent such provision was actually debited in Profit & Loss Account by assessee for the relevant previous year.
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Business deduction under section 36(1)(viia) - Bad debts - Assessee claiming deduction of provisions for bad and doubtful debts not debited to profit and loss account -
Assessee bank claimed deduction on acount of provision for bad and doubtful debts under section 36(1)(viia) AO denied assessee's claim on the ground that sum claimed as deduction had not been debited by assessee in profit and loss account.Held: Deduction on account of Provision for Bad and Doubtful Debts under section 36(1)(viia) could be allowed only to the extent such provision was actually debited in Profit & Loss Account by the Assessee for relevant previous year.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2013-14
INCOME TAX ACT, 1961
Section 40(a)(ia)
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