https://www.taxtmi.com/circulars?id=10537 Amendment to the proviso to section 36(1)(vii) is retrospective from 1 April 1992 and applies to entities covered by clause (viia), including public financial institutions, state financial corporations and state industrial investment corporations, restricting deductions for bad debts by reference to excess credit balances in the provision for bad and doubtful debts. Assessing Officers must review assessments for AY 1992-93 and subsequent years where the amended proviso was not applied and take remedial action as required by law. en-us Mon, 25 Oct 1999 00:00:00 +0530 Wed, 15 Jun 2011 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10537 Amendment to the proviso to section 36(1)(vii) is retrospective from 1 April 1992 and applies to entities covered by clause (viia), including public financial institutions, state financial corporations and state industrial investment corporations, restricting deductions for bad debts by reference to excess credit balances in the provision for bad and doubtful debts. Assessing Officers must review assessments for AY 1992-93 and subsequent years where the amended proviso was not applied and take remedial action as required by law. Circulars Income Tax Mon, 25 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10537