S.C : Deduction under section 36(1)(vii) is allowable independently and irrespective of provision for bad and doubtful debts created

Supreme Court Of India

DCIT Vs. Karnataka Bank Ltd.

Assessment Years : 1993-94 And 1994-95

Section : 36(1)(Vii)

S.H. Kapadia, Cj. And Madan B. Lokur, J.

S.L.P. (C) Nos. 4380 & 4381 Of 2009 & 6658 Of 2010 Civil Appeal Nos. 6164, 6166 & 6167 Of 2012

August 29, 2012

ORDER

Delay condoned.

Leave granted.

The civil appeals are dismissed.

No order as to costs.

ORDER

Heard learned counsel on both sides.

Delay condoned.

Leave granted.

The issue involved in these cases is covered in favour of the assessee vide judgment of this Court in the case of Catholic Syrian Bank Ltd. v. Commissioner of Income-Tax, reported in [2012] 343 ITR 270.

The civil appeals are, accordingly, dismissed.

No order as to costs.

[Citation : 349 ITR 705]

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