Case Law Details
Case Name : Bank of Tokyo Vs DIT (ITAT Delhi)
Related Assessment Year : 1995- 96
Courts :
All ITAT ITAT Delhi
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The taxpayer was a banking company. In the current appeal, the Revenue’s grievance was that the CIT(A) had erred in directing that the written back ”provision of bad-debts” was not taxable as ”business income” especially when a deduction of a sum was already allowed under Section 36(1) (vi a).
The AO in the assessment order held that such write off of the provision for bad and doubtful debts was al owed as deduction in the previous years and therefore the current write back should be taxable. The CIT(A), while deciding the case before him, held that in the absence of any spec...
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DETAIL OF CASE LAWS DECIDED BY ITAT DELHI, IN CASE OF BANK OF TOKYO U/S 36(1)(viia)