Tribunal held that provision for bad and doubtful debts is created, in respect of rural or non-rural advances by debiting profit and loss account is entitled for deduction subject to upper limit of deduction laid down in said section. Matter remanded for verification. ( AY.2010-11, 2011, 12 ]
ACIT v. Chaitanya Godavari Grameena Bank. (2018) 170 ITD 668/ 66 ITR 31 (SN) (Visakh) (Trib.)
S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank – Rural or Non Rural advances – Entitled for deduction subject to upper limit of deduction laid down in said section- Matter remanded .