https://www.taxtmi.com/caselaws?id=177789 The court clarified the scope of the proviso to clause (vii) of sub-section (1) of section 36 of the Income-tax Act, 1961, in relation to deductions claimed by scheduled banks. The court held that the proviso limits deductions for bad debts to the difference between the amount written off and the provision made under section 36(1)(viia). It emphasized that the deduction is subject to conditions in section 36(2), specifically clause (v) for scheduled banks. The court disagreed with the Tribunal's interpretation and directed a re-computation of deductions by the Assessing Officer. The appeals were allowed in favor of the appellants. en-us Mon, 11 Nov 2002 00:00:00 +0530 Tue, 19 Jan 2016 11:20:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177789 The court clarified the scope of the proviso to clause (vii) of sub-section (1) of section 36 of the Income-tax Act, 1961, in relation to deductions claimed by scheduled banks. The court held that the proviso limits deductions for bad debts to the difference between the amount written off and the provision made under section 36(1)(viia). It emphasized that the deduction is subject to conditions in section 36(2), specifically clause (v) for scheduled banks. The court disagreed with the Tribunal's interpretation and directed a re-computation of deductions by the Assessing Officer. The appeals were allowed in favor of the appellants. Case-Laws Income Tax Mon, 11 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177789