https://www.taxtmi.com/caselaws?id=261125 The Revenue's appeal was partly allowed, with the Tribunal upholding the Assessee's claim for deductions under various sections of the Income Tax Act. The Tribunal allowed deductions for bad debts written off, depreciation on investments held under the "Held to Maturity" category, and certain provisions, while disallowing penalty deductions. The Tribunal also clarified the applicability of certain sections to banking companies and directed a re-examination of deductions based on profits derived from eligible business. en-us Fri, 27 Feb 2015 00:00:00 +0530 Thu, 02 Jul 2015 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261125 The Revenue's appeal was partly allowed, with the Tribunal upholding the Assessee's claim for deductions under various sections of the Income Tax Act. The Tribunal allowed deductions for bad debts written off, depreciation on investments held under the "Held to Maturity" category, and certain provisions, while disallowing penalty deductions. The Tribunal also clarified the applicability of certain sections to banking companies and directed a re-examination of deductions based on profits derived from eligible business. Case-Laws Income Tax Fri, 27 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261125