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Banks eligible to claim deduction for bad debts & also claim provision for bad and doubtful debts
Case Law Details
- Case Name
- Allahabad Bank Vs. DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2001-02
- Courts
- All ITAT, ITAT Kolkata
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Banks eligible to claim deduction for bad debts u/s 36(1)(vii) in respect of advances and also claim provision for bad and doubtful debts u/s 36(1)(viia).
INCOME TAX APPELLATE TRIBUNAL KOLKATA
ITA No.1349/Kol/2009 – Assessment Year: 2001-02
Allahabad Bank Vs. DCIT
Date of Pronouncement: 16.05.2012.
ORDER
Per Shri C.D.Rao, AM
This is an appeal filed by the assessee against order dated 29.05.2009 of CIT(A) –VI, Kolkata pertaining to A.Yr. 2001-02.
2. The assessee has raised the following grounds of appeal :-
“1.That on facts as well as on law, the Learned CIT(A) has erred in conf...
