Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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Disallowance of deduction claimed u/s 36(1)(vii) was set aside, allowing bad debts relating to non-rural branches without adjusting against provision for bad and doubtful debts (PBDD) account, since PBDD relates to rural advances only. Addition u/s 14A for expenditure in relation to exempt income to book profit u/s 115JB was dismissed in favor of the assessee. Addition of provisions for wage arrears, ex-gratia, and bonus while computing book profits u/s 115JB was remitted back to the CIT(A) for fresh decision. Disallowance u/s 14A read with Rule 8D was rejected, as dividend income cannot be treated as expenditure. Deduction u/s 36(1)(viia) for rural branches was remitted back to the AO to consider the latest/provisional census. Payments to National Payments Corporation of India and Visa Worldwide for switch charges, ATM charges, and fees were directed to be allowed, following earlier decisions.
Disallowance of deduction claimed u/s 36(1)(vii) was set aside, allowing bad debts relating to non-rural branches without adjusting against provision for bad and doubtful debts (PBDD) account, since PBDD relates to rural advances only. Addition u/s 14A for expenditure in relation to exempt income to book profit u/s 115JB was dismissed in favor of the assessee. Addition of provisions for wage arrears, ex-gratia, and bonus while computing book profits u/s 115JB was remitted back to the CIT(A) for fresh decision. Disallowance u/s 14A read with Rule 8D was rejected, as dividend income cannot be treated as expenditure. Deduction u/s 36(1)(viia) for rural branches was remitted back to the AO to consider the latest/provisional census. Payments to National Payments Corporation of India and Visa Worldwide for switch charges, ATM charges, and fees were directed to be allowed, following earlier decisions.
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