https://www.taxtmi.com/caselaws?id=286471 The High Court ruled in a tax case regarding deductions under Sections 36(1)(viia) and 36(1)(vii) of the Income Tax Act. The court held that for deduction under Section 36(1)(viia), a provision for bad debts equal to the claimed deduction amount is mandatory. The deduction is limited to the provision made in the accounts. Regarding Section 36(1)(vii), the court allowed bad debts written off for non-rural branches without adjusting the provision made under Section 36(1)(viia). The court ruled in favor of the revenue on the first issue and in favor of the assessee on the second issue. en-us Tue, 21 Oct 2014 00:00:00 +0530 Thu, 27 Feb 2020 20:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286471 The High Court ruled in a tax case regarding deductions under Sections 36(1)(viia) and 36(1)(vii) of the Income Tax Act. The court held that for deduction under Section 36(1)(viia), a provision for bad debts equal to the claimed deduction amount is mandatory. The deduction is limited to the provision made in the accounts. Regarding Section 36(1)(vii), the court allowed bad debts written off for non-rural branches without adjusting the provision made under Section 36(1)(viia). The court ruled in favor of the revenue on the first issue and in favor of the assessee on the second issue. Case-Laws Income Tax Tue, 21 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286471