Deduction u/s 36(1)(viii) - banking company - when one of the ...

Case Laws Income Tax

August 9, 2012

Deduction u/s 36(1)(viii) - banking company - when one of the possible views has been taken by the Assessing Officer, the CIT cannot exercise his jurisdiction u/s 263 on that aspect of the matter. - AT

View Source

← Previous Next →

Deduction u/s 36(1)(viii) - banking company - when one of the ...

Case Laws Income Tax

August 9, 2012

You may also like:

Deduction u/s 36(1)(viii) - Whether assessee is eligible for deduction u/s 36(1)(viii) even though the assessee is not an eligible entity under the provisions of the Act...

Revision u/s 263 - Deduction u/s 36(1)(viii) - Insofar as, the second issue of excess allowances of deduction u/s.36 (1)(vii), the assessment order passed by the AO is...

The High Court held that the assessee, a banking company, is entitled to exclude interest earned from securities on an accrual basis for income tax purposes. It can...

Deduction u/s 36(1)(viia) or u/s 36(1)(viii) - creation of special reserve fund - the assessee has tried to equate the apportionment of profit against an expenditure for...

Delay in employee contribution to P.F. - Disallowance u/s 36(1)(va) read with section 2(24)(x) - The onus is on the assessee to prove that it is eligible for deduction...

Deduction of interest paid for the borrowed amount used for business purpose - Loan taken from Bank given to Holding company as interest free Advance - Addition u/s...

Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of...

Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

Expenses incurred by overseas branch – Deduction u/s. 44C has to be given after taking into account deduction u/s. 36(1)(viia) and deduction u/s.36(1)(viia) has to be...

PCIT's view that section 36 allows deduction only for bad and doubtful debts, not for provision on standard assets, was challenged. AR presented case laws allowing...

A bank is eligible to claim deduction towards provision for bad and doubtful debts u/s 36(1)(viia), irrespective of whether it has rural or non-rural advances. The...

The Appellate Tribunal addressed the following issues: 1. Deduction u/s. 80P(1) r.w.s. 80P(2)(a)(i) - Held that the assessee is not a cooperative bank, making it...

Swapping premium - Disallowance u/s 36(1)(viii) - swapping premium is nothing but discounted interest and had originated in the long term finance initially advance -...

Bad debts versus Provisions for bad and doubtful debts - rural banking - Scope and ambit of the proviso to Section 36(1)(vii) - provisions of Sections 36(1)(vii) and...

Deduction u/s 36(1)(viia) - revenue had not taken any action against the directions of the Tribunal as per the original order, and therefore the directions have...

Quick Updates: