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2014 (1) TMI 1366 - AT - Income TaxProvision for bad and doubtful debts - Held that:- Decision in State Bank of Patiala vs. CIT [2004 (5) TMI 12 - PUNJAB AND HARYANA High Court] followed - Creatin provision for bad and doubtful debts equal to the amount mentioned in section 36(1)(viia) is a must for claiming such deduction - As the assessee has not made a Provision for bad and doubtful debts in the books of account equal to the amount of deduction sought to be claimed under Section 36(1)(viia) of the Act, the lower authorities were justified in restricting the deduction to Rs.50,00,000/-, being the amount of Provision actually made in the books of account - Decided against assessee.
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