No deduction for provisions on bad debts u/s 36(1)(vii) of Income Tax Act, even if accounting policies align.

Assessee is not entitled to deduction of any provision created for bad and doubtful debts, no matter such provision is created based on the prevalent accounting policies - Explanation to section 36(1)(vii), which prohibits granting of deduction of any provision for bad and doubtful debts. .....

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