No deduction for provisions on bad debts u/s 36(1)(vii) of Income Tax Act, even if accounting policies align.

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....Assessee is not entitled to deduction of any provision created for bad and doubtful debts, no matter such provision is created based on the prevalent accounting policies - Explanation to section 36(1)(vii), which prohibits granting of deduction of any provision for bad and doubtful debts.....