No reassessment to disallow provision for bad debts if AO duly called for all details during original assessment: ITAT

INCOME TAX : Where AO issued a reopening notice on ground that assessee bank had debited Rs. 2 crores to profit amp; loss account towards provision for bad and doubtful debts, however, it had claimed deduction of Rs. 2.50 crores under section 36(1)(viia), since AO had called for all details regarding such provision made for bad debts during original scrutiny assessment proceedings and after considering details he had accepted claim made under section 36(1)(viia),

from www.taxmann.com Latest Case Laws https://ift.tt/2Xg0Xvj