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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Bad debts versus Provisions for bad and doubtful debts - rural ...


Supreme Court Clarifies Distinction Between Bad Debts and Provisions in Rural Banking Under Income Tax Act Section 36(1)(vii.

February 21, 2012

Case Laws     Income Tax     SC

Bad debts versus Provisions for bad and doubtful debts - rural banking - Scope and ambit of the proviso to Section 36(1)(vii) - provisions of Sections 36(1)(vii) and 36(1)(viia) are distinct and independent items of deduction and operate in their respective fields - SC

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