https://www.taxtmi.com/caselaws?id=68810 A co-operative bank was held not to fall within the exhaustive definition of "non-scheduled bank" in Explanation (i) to section 36(1)(viia), because the borrowing from the Banking Regulation Act had to be read strictly within section 5(c) and could not be enlarged by section 56, which operates in a different regulatory context. The later amendment including co-operative banks from 1 April 2007 was treated as confirming that they were not covered earlier. As a result, the bank was not entitled to deduction for provision for bad and doubtful debts for the relevant assessment year. en-us Fri, 23 May 2008 00:00:00 +0530 Fri, 01 Apr 2011 17:52:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68810 A co-operative bank was held not to fall within the exhaustive definition of "non-scheduled bank" in Explanation (i) to section 36(1)(viia), because the borrowing from the Banking Regulation Act had to be read strictly within section 5(c) and could not be enlarged by section 56, which operates in a different regulatory context. The later amendment including co-operative banks from 1 April 2007 was treated as confirming that they were not covered earlier. As a result, the bank was not entitled to deduction for provision for bad and doubtful debts for the relevant assessment year. Case-Laws Income Tax Fri, 23 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68810