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 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) ...