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2008 (10) TMI 337 - KERALA HIGH COURTBusiness Expenditure- The assessing authority disallowed the assessee’s claim on the ground that the assessee had created a reserve during the previous year which was transferred to the provision for bad and doubtful debt account. The Commissioner (Appeals) allowed the claim of the assesese on the ground that the condition of maintenance of reserve was incorporated only w.e.f. 1 April 1998. The Tribunal dismissed the appeal of revenue. Held that- the assessee was entitled to deduction under section 36(1)(viii)of the Act for the assessment year 1996-97.
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