Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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 presence of both rural and non-rural advances is not mandatory. The assessing officer must consider the actual provision made in the books for bad and doubtful debts, regardless of the nature of advances. The deduction is allowed subject to the permissible upper limits specified in Section 36(1)(viia)(a). All types of banks described under sub-clause (a) of clause (viia) are entitled to seek deduction of an amount not exceeding the prescribed percentage of total income, provided there is a provision for bad and doubtful debts in the books of account. The existence of rural branches is not a condition for availing the deduction up to the specified percentage of total income.
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 presence of both rural and non-rural advances is not mandatory. The assessing officer must consider the actual provision made in the books for bad and doubtful debts, regardless of the nature of advances. The deduction is allowed subject to the permissible upper limits specified in Section 36(1)(viia)(a). All types of banks described under sub-clause (a) of clause (viia) are entitled to seek deduction of an amount not exceeding the prescribed percentage of total income, provided there is a provision for bad and doubtful debts in the books of account. The existence of rural branches is not a condition for availing the deduction up to the specified percentage of total income.
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