https://www.taxtmi.com/caselaws?id=268052 In a banking context, non-rural bad debts were considered under the separate scope of sections 36(1)(vii) and 36(1)(viia), with deduction available subject to verification of write-off and other statutory conditions. The loss on transfer of securities from available for sale to held to maturity was treated as a real business loss because the securities were stock-in-trade revalued under prudential norms. For section 14A, no interest disallowance was made where own funds exceeded exempt-income investments, while other expenditure required fresh factual examination. Broken period interest and depreciation on LAN/WAN equipment were allowed, and depreciation on temporary structures and fixtures was remitted for verification. en-us Wed, 04 Nov 2015 00:00:00 +0530 Wed, 18 Nov 2015 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268052 In a banking context, non-rural bad debts were considered under the separate scope of sections 36(1)(vii) and 36(1)(viia), with deduction available subject to verification of write-off and other statutory conditions. The loss on transfer of securities from available for sale to held to maturity was treated as a real business loss because the securities were stock-in-trade revalued under prudential norms. For section 14A, no interest disallowance was made where own funds exceeded exempt-income investments, while other expenditure required fresh factual examination. Broken period interest and depreciation on LAN/WAN equipment were allowed, and depreciation on temporary structures and fixtures was remitted for verification. Case-Laws Income Tax Wed, 04 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268052