Provision for Standard Assets allowable under Section 36(1)(viia) of Income Tax Act

ACIT Vs Jila Sahakari Kendriya Bank (ITAT Indore)

ITAT Indore holds Provision for Standard Assets as Allowable Deduction under Section 36(1)(viia) of Income Tax Act, 1961

Facts:

• The assessee had claimed a total deduction of Rs. 10,00,00,000/- u/s 36(1)(viia) under two captions, namely :

1. Provision for Non-Performing Assets – Rs. 5 crores; and

2. Provision f

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