Banks eligible to claim deduction for bad debts & also claim provision for bad and doubtful debts

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

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