https://www.taxtmi.com/caselaws?id=777476 ITAT allowed the appeal of the assessee, holding that the total deduction claimed under s.36(1)(viia) of Rs.83,77,323 (comprising Rs.40,00,000 provision and Rs.43,77,323 bad debts) was within the statutory cap - the lower of 7.5% of total income or 10% of aggregate average advances - and therefore permissible. The tribunal deleted the addition sustained by the CIT(A) and upheld the full deduction under s.36(1)(viia). en-us Thu, 09 Jan 2025 00:00:00 +0530 Thu, 28 Aug 2025 11:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777476 ITAT allowed the appeal of the assessee, holding that the total deduction claimed under s.36(1)(viia) of Rs.83,77,323 (comprising Rs.40,00,000 provision and Rs.43,77,323 bad debts) was within the statutory cap - the lower of 7.5% of total income or 10% of aggregate average advances - and therefore permissible. The tribunal deleted the addition sustained by the CIT(A) and upheld the full deduction under s.36(1)(viia). Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777476