M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE
C.A. No.-001337-001337 - 2003Supreme Court11 Jan 2010
Section 145Section 2(24)Section 36(1)(vii)Section 37Section 37(1)
68,516/- to the taxable income on the
ground that the provision for bad and doubtful debt was not allowable under
Section 36(1)(vii) of the IT Act. The appellant claimed that the “Provision
for NPA”, however, represented “loss” in the value of assets and was,
therefore, allowable under Section 37(1) of the IT Act. This
