Case Law Analysis
|Calcutta High Court
Assessee May Claim Additional Provision Via First Proviso to Section 36(1)(viia)(a) | Doubtful Assets Deduction : Calcutta HC
The Calcutta High Court ruled that the first proviso to Section 36(1)(viia)(a) of the Income tax Act 1961 grants banks an option to claim additional provision for doubtful or loss assets, allowing cumulative deduction within statutory limits. This clarifies that the proviso is not an alternative to the main clause, benefitting banking assessees seeking higher tax deductions.