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2019 (6) TMI 593 - AT - Income TaxDisallowance of provision of bad and doubtful debt u/s 36(1)(vii) - HELD THAT:- We note that this tribunal in the own case of the assessee involving identical issue has confirmed the order of the learned CIT (A) for the assessment year 2011-12 in [2018 (7) TMI 1989 - ITAT AHMEDABAD] The question is also squarely covered by the decision of Vijaya Bank v. CIT [2010 (4) TMI 46 - SUPREME COURT] where it was held that 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 under section 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. The learned DR at the time of the hearing has not pointed out any material fact suggesting that there is a change in the facts and circumstances for the year under consideration viz a viz the immediate preceding assessment year. Therefore, respectfully following the order above of this tribunal, we find no reason to interfere in the order of the learned CIT-A. Hence the ground of appeal of the Revenue is dismissed. Disallowance u/s 14A - whether the disallowance u/s 14A read with rule 8D can exceed the amount of dividend income? - HELD THAT:- As decided in SAGAR YESWANTRAI MEHTA VERSUS THE ACIT, CIRCLE-2 (1) (2) , AHMEDABAD [2019 (2) TMI 1642 - ITAT AHMEDABAD] ends of justice would meet if we restrict the disallowance equivalent to the tax-free income shown by the assessee - Decided against revenue
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