https://www.taxtmi.com/caselaws?id=754265 ITAT Raipur upheld AO's rectification u/s 154 disallowing bad debt provisions claimed by cooperative bank under s 36(1)(viia) without recording in books. Tribunal found the mistake apparent from records as provision claimed in computation sheet wasn't recorded in P&L account. CIT(A)'s comparison with subsequent year was deemed incorrect as that year had actual book provisions. Matter remitted to AO to allow deduction only for actual provisions recorded in books. Revenue's appeal partly allowed for statistical purposes. en-us Wed, 29 May 2024 00:00:00 +0530 Wed, 19 Jun 2024 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754265 ITAT Raipur upheld AO's rectification u/s 154 disallowing bad debt provisions claimed by cooperative bank under s 36(1)(viia) without recording in books. Tribunal found the mistake apparent from records as provision claimed in computation sheet wasn't recorded in P&L account. CIT(A)'s comparison with subsequent year was deemed incorrect as that year had actual book provisions. Matter remitted to AO to allow deduction only for actual provisions recorded in books. Revenue's appeal partly allowed for statistical purposes. Case-Laws Income Tax Wed, 29 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754265