https://www.taxtmi.com/caselaws?id=243537 A co-operative bank claiming deduction for provision for bad and doubtful debts under section 36(1)(viia) was examined against the Banking Regulation Act, 1949. The statutory scheme, including the Part V definitions, was taken to mean that a co-operative bank falls within "banking company" and, if not scheduled, within "non-scheduled bank". The Explanation to section 36(1)(viia) defines a rural branch only as a branch of a scheduled bank or non-scheduled bank situated in a place with population not exceeding ten thousand. The earlier jurisdictional High Court view on "rural branch" was followed, and the claimed deduction on the footing urged by the assessee was denied. en-us Fri, 24 Aug 2012 00:00:00 +0530 Tue, 04 Feb 2014 08:24:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243537 A co-operative bank claiming deduction for provision for bad and doubtful debts under section 36(1)(viia) was examined against the Banking Regulation Act, 1949. The statutory scheme, including the Part V definitions, was taken to mean that a co-operative bank falls within "banking company" and, if not scheduled, within "non-scheduled bank". The Explanation to section 36(1)(viia) defines a rural branch only as a branch of a scheduled bank or non-scheduled bank situated in a place with population not exceeding ten thousand. The earlier jurisdictional High Court view on "rural branch" was followed, and the claimed deduction on the footing urged by the assessee was denied. Case-Laws Income Tax Fri, 24 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243537