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2018 (7) TMI 1989 - AT - Income TaxDisallowance on account of provision for bad and doubtful debts made by assessee u/s 36(1)(vii) - HELD THAT:- As GUJARAT STATE FINANCIAL CORPORATION [2016 (10) TMI 1265 - ITAT AHMEDABAD] where assessee bank had written off impugned 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) and for that purpose, it was not necessary for it to close individual account of each of its debtors in its books. We are in complete agreement with the view taken by the Tribunal - Decided against revenue.
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