Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 405 - AT - Income TaxDisallowance u/s 36(1) (viia) - creation of reserve for bad debts - Held that:- as per the provision of section 36(1)(viia), the deduction is allowable in respect of provision for bad and doubtful debts - But assessee has made reserve for bad and doubtful debts towards standard assets, and therefore, the same cannot be said to be akin to the provision for bad and doubtful debts - assessee is not eligible for any further deduction, in the absence of any extra provision for bad and doubtful debts, having been created by the assessee as per the audited accounts available in the paper book - Decided against assessee.
|