https://www.taxtmi.com/caselaws?id=77739 The Full Bench held that the distinction made by a previous decision regarding bad debts written off in rural branches versus other branches does not align with the proviso to section 36(1)(vii) of the Income-tax Act. It was determined that the earlier decision did not correctly interpret the Act's provisions. Consequently, the respondent-banks are permitted to claim deductions for bad debts written off only if they exceed the provision created under clause (viia) of the Act. The appeals were allowed, overturning the Tribunal's orders and reinstating the assessments upheld in the initial appeals, providing a definitive interpretation of the relevant laws. en-us Wed, 16 Dec 2009 00:00:00 +0530 Thu, 07 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77739 The Full Bench held that the distinction made by a previous decision regarding bad debts written off in rural branches versus other branches does not align with the proviso to section 36(1)(vii) of the Income-tax Act. It was determined that the earlier decision did not correctly interpret the Act's provisions. Consequently, the respondent-banks are permitted to claim deductions for bad debts written off only if they exceed the provision created under clause (viia) of the Act. The appeals were allowed, overturning the Tribunal's orders and reinstating the assessments upheld in the initial appeals, providing a definitive interpretation of the relevant laws. Case-Laws Income Tax Wed, 16 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77739