It is not imperative for assessee-bank to close individual account of each of it’s debtors in it’s books for claiming deduction U/s. 36(1)(vii)

SUPREME COURT OF INDIA, Vijaya Bank Vs. CIT, APPEAL NO: CIVIL APPEAL NOS. 3286- 3287 of 2010, DECIDED ON April 15, 2010 JUDGEMENT S.H. KAPADIA, J. Leave granted. Whether it is imperative for the assessee-Bank to close the individual account of each of it’s debtors in it’s books or a mere reduction in the Loans and Advances or Debtors on the asset side of it’s Balance Sheet to the extent of the provision for bad debt would be sufficient to constitute a write off is the question which we are required to answer in these civil appeals? In these civil appeals, we ...