NPA Provision

ITAT Special Bench Upholds Section 36(1)(viia) Deduction for RBI-Mandated Bad Debt Provisions The Special Bench of the Income Tax Appellate Tribunal (ITAT), Chandigarh, on 5 May 2026, held that provisions created by banks for bad and doubtful debts in compliance with RBI prudential norms qualify for deduction under Section 36(1)(viia) of the Income Tax Act,…