https://www.taxtmi.com/caselaws?id=210762 The Supreme Court held that Sections 36(1)(vii) and 36(1)(viia) are distinct and independent provisions for bad debt deductions. The proviso to Section 36(1)(vii) limits deductions to debts exceeding the provision balance under Section 36(1)(viia). Circulars by the CBDT confirmed the independence of these sections. The Court clarified that the proviso prevents double deductions only for rural advances under Section 36(1)(viia). The appeals of the assessees were allowed, Revenue appeals dismissed, and matters remanded for proper computation in line with the judgment. en-us Fri, 17 Feb 2012 00:00:00 +0530 Thu, 17 Oct 2013 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210762 The Supreme Court held that Sections 36(1)(vii) and 36(1)(viia) are distinct and independent provisions for bad debt deductions. The proviso to Section 36(1)(vii) limits deductions to debts exceeding the provision balance under Section 36(1)(viia). Circulars by the CBDT confirmed the independence of these sections. The Court clarified that the proviso prevents double deductions only for rural advances under Section 36(1)(viia). The appeals of the assessees were allowed, Revenue appeals dismissed, and matters remanded for proper computation in line with the judgment. Case-Laws Income Tax Fri, 17 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210762