https://www.taxtmi.com/caselaws?id=272515 A bank's provision for standard assets made in accordance with mandatory RBI prudential norms was treated as akin to provisioning for bad and doubtful debts, and therefore allowable in principle under the deduction scheme for banks. The Tribunal held that such a provision could not be disallowed merely because it was a prudential or notional entry, or characterised as capital or contingent expenditure. The disallowance was accordingly deleted in favour of the assessee, and the remaining ground was not pressed. en-us Tue, 30 Oct 2012 00:00:00 +0530 Mon, 06 Aug 2018 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272515 A bank's provision for standard assets made in accordance with mandatory RBI prudential norms was treated as akin to provisioning for bad and doubtful debts, and therefore allowable in principle under the deduction scheme for banks. The Tribunal held that such a provision could not be disallowed merely because it was a prudential or notional entry, or characterised as capital or contingent expenditure. The disallowance was accordingly deleted in favour of the assessee, and the remaining ground was not pressed. Case-Laws Income Tax Tue, 30 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272515