2017 (10) TMI 598

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..... n The Commissioner of Income Tax v. Lord Krishna Bank Ltd.[2010 (10) TMI 860 - Kerala High Court]. Addition of interest accrued on Government securities - interest on Government securities does not accrue on a day-to-day basis but only on the due date - whether the interest for broken period is a capital expenditure or a revenue expenditure - ITAT deleted the addition - Held that:- The question .....

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..... eversing the decision of the Commissioner of Income Tax (Appeals) on the issue regarding the debiting of bad debts relating to the non-rural branches in the provision for bad debt account created in accordance with the provisions of Section 36(1)(viia) of the Act? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in deleting the addition of interest .....

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..... is revenue expenditure and not capital outlay? 6. Whether, the Tribunal was right in not relying on the decision of the Supreme Court in Vijaya Bank reported in 187 ITR 541? 2. We heard the learned Standing Counsel for the Revenue and the learned Senior Counsel for the assessee. 3. Insofar as the first question of law raised in the context of Section 36(1)(viia) of the Act is concern .....

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