https://www.taxtmi.com/caselaws?id=357813 The Tribunal allowed the appeal, determining that the provision for standard assets was akin to bad and doubtful debts, thus eligible for deduction under section 36(1)(viia) of the Income Tax Act. The Tribunal held that the provision claimed by the assessee was essentially a provision for bad and doubtful debts, considering the nature of the banking business. Consequently, the Tribunal overturned the disallowance, allowing the assessee's claim for the provision under the specified section of the Act. en-us Tue, 20 Mar 2018 00:00:00 +0530 Fri, 30 Mar 2018 08:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357813 The Tribunal allowed the appeal, determining that the provision for standard assets was akin to bad and doubtful debts, thus eligible for deduction under section 36(1)(viia) of the Income Tax Act. The Tribunal held that the provision claimed by the assessee was essentially a provision for bad and doubtful debts, considering the nature of the banking business. Consequently, the Tribunal overturned the disallowance, allowing the assessee's claim for the provision under the specified section of the Act. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357813