Deduction u/s 36(1)(viia) of the Act - Provision for bad and ...

Understanding Section 36(1)(viia): New Provisions for Bad Debts Cannot Offset Reversed Amounts; Only Increases Count.

May 2, 2012

Case Laws Income Tax AT

Deduction u/s 36(1)(viia) of the Act - Provision for bad and doubtful debts - provision for bad and doubtful debts newly created during the year under consideration should not be netted against the amount written back or reversed. However, there might be a situation that the provision created for a particular debt needs enhancement and in that situation, only the enhanced amount should be treated as the new provision for the purpose of sec. 36(1)(viia) of the Act. - AT

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Deduction u/s 36(1)(viia) of the Act - Provision for bad and ...

Understanding Section 36(1)(viia): New Provisions for Bad Debts Cannot Offset Reversed Amounts; Only Increases Count.

May 2, 2012

Case Laws Income Tax AT

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