https://www.taxtmi.com/caselaws?id=209384 HC held that valuation of unquoted government securities based on RBI guidelines was a rational basis and the Tribunal rightly upheld the assessee's claim; the AO produced no alternative valuation formula and did not show the RBI method was irrational, so deduction under Section 36(1)(viia) was allowed. On classification of rural branches, HC reversed the Tribunal, holding the basic unit is the revenue village (rural where village population as a unit is under 10,000), not municipal/ward divisions, and restored the assessment. en-us Thu, 07 Oct 2010 00:00:00 +0530 Tue, 26 Aug 2025 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209384 HC held that valuation of unquoted government securities based on RBI guidelines was a rational basis and the Tribunal rightly upheld the assessee's claim; the AO produced no alternative valuation formula and did not show the RBI method was irrational, so deduction under Section 36(1)(viia) was allowed. On classification of rural branches, HC reversed the Tribunal, holding the basic unit is the revenue village (rural where village population as a unit is under 10,000), not municipal/ward divisions, and restored the assessment. Case-Laws Income Tax Thu, 07 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209384