https://www.taxtmi.com/caselaws?id=313463 ITAT Chennai dismissed the assessee bank's appeals for deduction u/s 36(1)(viia) regarding bad and doubtful debts. The bank failed to create provisions in its original return, only adding them in revised returns. The Tribunal held that provisions must be actually created in books of accounts during the relevant assessment year to claim deductions. Following State Bank of Patiala HC precedent, mere provision in revised returns without actual book entries is insufficient. The CIT(A)'s order denying deductions was upheld. en-us Thu, 27 Jun 2019 00:00:00 +0530 Tue, 16 Apr 2024 20:37:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313463 ITAT Chennai dismissed the assessee bank's appeals for deduction u/s 36(1)(viia) regarding bad and doubtful debts. The bank failed to create provisions in its original return, only adding them in revised returns. The Tribunal held that provisions must be actually created in books of accounts during the relevant assessment year to claim deductions. Following State Bank of Patiala HC precedent, mere provision in revised returns without actual book entries is insufficient. The CIT(A)'s order denying deductions was upheld. Case-Laws Income Tax Thu, 27 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313463