https://www.taxtmi.com/caselaws?id=242617 A co-operative bank was entitled to deduction for bad and doubtful debts under section 36(1)(viia) because the main provision extends the benefit to scheduled banks, non-scheduled banks and co-operative banks, linked to income and rural branch advances. The Tribunal held that the explanation defining "rural branch" could not be read so restrictively as to defeat the substantive deduction granted by the main clause. Treating the bank as within the statutory banking framework and relying on legislative materials showing intended coverage of co-operative banks, it found no sustainable basis to deny the claim. The Assessing Officer's disallowance was therefore deleted. en-us Wed, 07 Mar 2012 00:00:00 +0530 Sun, 19 Jan 2014 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242617 A co-operative bank was entitled to deduction for bad and doubtful debts under section 36(1)(viia) because the main provision extends the benefit to scheduled banks, non-scheduled banks and co-operative banks, linked to income and rural branch advances. The Tribunal held that the explanation defining "rural branch" could not be read so restrictively as to defeat the substantive deduction granted by the main clause. Treating the bank as within the statutory banking framework and relying on legislative materials showing intended coverage of co-operative banks, it found no sustainable basis to deny the claim. The Assessing Officer's disallowance was therefore deleted. Case-Laws Income Tax Wed, 07 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242617