Bad Debt Relief Under 36(1)(vii) Possible Despite 36(1)(viia) Disallowance: ITAT Cochin

South Indian Bank Ltd. Vs ACIT (ITAT Cochin) Bad Debt deduction under 36(1)(vii) possible even if 36(1)(viia) Claim fails, Rules ITAT; Kerala ITAT applies Vijaya Bank Ruling – Permits alternate Bad Debt claim for banks Cochin ITAT  has partly allowed the appeal of South Indian Bank Ltd  holding that an excess provision for bad &  doubtful debts, disallowed u/s 36(1)(viia), can still be considered for deduction u/s 36(1)(vii) if the statutory conditions are satisfied. Assessee, a private scheduled bank, had originally filed its return declaring Rs 670.58 crore as total income, which w...