No Disallowance on account of Bad and Doubtful Debts claimed u/s 36(1)(viia) of Income Tax Act with respect to Non-Performing Assets: ITAT [Read Order]

By Aparna. M - On August 6, 2023 1:00 pm - 2 mins read
No Disallowance on account - Disallowance - account - account of Bad and Doubtful Debts - Doubtful Debts - Bad debt - Income Tax Act - Non-Performing Assets - Assets - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that no  disallowance could be made on account of bad and doubtful debts claimed under Section 36(1)(viia) of Income Tax Act, 1961 with respect to Non-Performing Assets (NPA). The assessee, Yes Bank Ltd return was revised and declared total income of Rs 22,75,02,02,660/-. Thereafter, the assessee’s…

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