https://www.taxtmi.com/caselaws?id=307709 The ITAT Mumbai allowed the appeal, overturning the disallowance of the deduction under section 36(1)(viia) for provision of standard assets. The judgment emphasized that the deduction covers provisions for bad and doubtful debts without distinguishing between bad and standard assets. The decision was influenced by previous tribunal rulings supporting the assessee's entitlement to the deduction, leading to the deletion of the disallowance imposed by the AO. The consideration of evidence submitted played a minimal role in the final outcome. en-us Wed, 24 Jul 2019 00:00:00 +0530 Mon, 01 May 2023 21:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307709 The ITAT Mumbai allowed the appeal, overturning the disallowance of the deduction under section 36(1)(viia) for provision of standard assets. The judgment emphasized that the deduction covers provisions for bad and doubtful debts without distinguishing between bad and standard assets. The decision was influenced by previous tribunal rulings supporting the assessee's entitlement to the deduction, leading to the deletion of the disallowance imposed by the AO. The consideration of evidence submitted played a minimal role in the final outcome. Case-Laws Income Tax Wed, 24 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307709