S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts-Schedule bank-Reserve and surplus account cannot be considered as provision for the purpose of allowing deduction-The amount credited to bad and doubtful reserve is not allowable as a deduction.
Held that the Reserve and surplus account cannot be considered as a provision for the purpose of allowing deduction under S. 36(1)(viia) and, therefore, the amount credited to bad and doubtful reserve is not allowable as a deduction. (AY.2013-14 & 2014-15)
Leave a Reply