S. 36(1)(viia) Deduction not allowable without Provision for Bad and Doubtful Debts in Books of Account: ITAT [Read Order]
ITAT rules to invoke the provisions of section 36 (1) (viia), it is essential to make a provision in the books of account for bad and doubtful debts.
By Kavi Priya - On August 6, 2024 10:15 am - 3 mins read
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that deduction under Section 36(1)(viia) of Income tax Act, 1961 is not allowed without any provision for Bad and Doubtful Debts in the books of account. Assessee, Andhra Pradesh State Co-operative Bank Limited (APCOB) is a Scheduled State Cooperative Bank involved in…
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