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2014 (7) TMI 911 - HC - Income TaxClaim of bad debts u/s 36 Held that:- The Tribunal while allowing the claim of the assessee of deduction u/s. 36(1)(vii) of the Act, as bad debts, relied upon Vijaya Bank v. CIT [2010 (4) TMI 46 - SUPREME COURT] - where assessee bank had written off bad debt in its books by way of a debit to profit and loss account, simultaneously reducing corresponding amount from loans and advances to debtors depicted on assets side in balance sheet at close of year, the assessee- bank was entitled to deduction u/s 36(1)(vii), it was not necessary for it to close individual account of each of its debtors in its books the order of the Tribunal is upheld Decided against Revenue.
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