Proviso to section 36(1)(vii) cannot be applied for disallowing deduction claimed on bad debts relating to non-rural advances

Canara Bank Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that when the proviso to section 36(1)(vii) applies to bad debts written off relating to rural advances, the same cannot be applied for disallowing deduction claimed on account of write off of bad and doubtful debts relating to nonrural/urban advances.

Please become a Premium member. If you are already a Premium member, login here to access the full content.