Accounting Question : Provision for bad debts : bad debts : income tax?

Provision for bad debts has been created at 50% of the outstanding debtors by debiting the Bad Debt A/c ( expense) and crediting Provsion for bad debt a/c. (liablilty) during 2006-07. Is the above expense of Bad-debt allowable as a deduction from Business Income , while computing Income for Income tax purposes. I... show more Provision for bad debts has been created at 50% of the outstanding debtors by debiting the Bad Debt A/c ( expense) and crediting Provsion for bad debt a/c. (liablilty) during 2006-07.
Is the above expense of Bad-debt allowable as a deduction from Business Income , while computing Income for Income tax purposes.
I await a prompt answer. thanks..........
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