Allowing the appeal of the revenue , the Tribunal held that , provision for standard asset is purely contingent and cannot be allowed as deduction. ( AY.2010-11, 2011, 12 ]
ACIT v. Chaitanya Godavari Grameena Bank. (2018) 170 ITD 668/66 ITR 31 (Visakh) (Trib.)
S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank – Provision for standard assets is purely contingent hence cannot be allowed as deduction.