{"id":8543,"date":"2019-12-17T12:21:06","date_gmt":"2019-12-17T12:21:06","guid":{"rendered":"http:\/\/itatonline.org\/digest\/city-union-bank-ltd-v-acit-2019-74-itr-644-chennaitrib-2\/"},"modified":"2019-12-17T12:21:06","modified_gmt":"2019-12-17T12:21:06","slug":"city-union-bank-ltd-v-acit-2019-74-itr-644-chennaitrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/city-union-bank-ltd-v-acit-2019-74-itr-644-chennaitrib-2\/","title":{"rendered":"City Union Bank Ltd.  v.  ACIT (2019) 74 ITR 644 (Chennai)(Trib. )"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that CIT(A) erred in combining the provisions of S.\u00a0 36(1)(vii) and S.\u00a0 36(1)(viia). \u00a0Tribunal observed that CIT(A) considered only the provisions of bad and doubtful debts debited to profit and loss account and ignored the write off of bad debts debited to provisions for bad and doubtful debts and reduced from advance from the Balance Sheet which also constitutes\u00a0 write off. \u00a0Accordingly, Tribunal remanded the issue back to the file of the AO for limited purpose of verifying the amount of write off debited to provisions of bad and doubtful debts and reduced from advance account in the balance sheet and allow the same as deduction to the extent of write off. \u00a0(AY. \u00a02012-13,\u00a0 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(vii) : Bad debt\u2013Provisions for bad  and doubtful debts-Reduced from advance account in the balance sheet allowable as deduction to the extent of write off.   [S. 36(1)(viia)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8543","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2dN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8543"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8543\/revisions"}],"predecessor-version":[{"id":8544,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8543\/revisions\/8544"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}