https://www.taxtmi.com/caselaws?id=175787 Bad debt deductions under section 36(1)(vii) were treated as distinct from provision deductions under section 36(1)(viia), subject to the proviso and section 36(2)(v), and the matter was sent back for fresh consideration. Depreciation on assets taken over from another bank required examination of whether a valid amalgamation satisfied section 2(1B), so that issue was also remitted. Staff welfare fund contribution was disallowed for want of a crystallized liability or approved fund payment, while wage arrears were allowed only in the year of actual payment. Exchange gain on repatriation of capital from foreign branches was held to be a taxable revenue receipt. Section 115JB was held inapplicable to banking companies for the relevant pre-amendment period. Double taxation relief was denied, and interest under section 234D was held leviable. en-us Tue, 05 Mar 2013 00:00:00 +0530 Fri, 10 Mar 2023 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175787 Bad debt deductions under section 36(1)(vii) were treated as distinct from provision deductions under section 36(1)(viia), subject to the proviso and section 36(2)(v), and the matter was sent back for fresh consideration. Depreciation on assets taken over from another bank required examination of whether a valid amalgamation satisfied section 2(1B), so that issue was also remitted. Staff welfare fund contribution was disallowed for want of a crystallized liability or approved fund payment, while wage arrears were allowed only in the year of actual payment. Exchange gain on repatriation of capital from foreign branches was held to be a taxable revenue receipt. Section 115JB was held inapplicable to banking companies for the relevant pre-amendment period. Double taxation relief was denied, and interest under section 234D was held leviable. Case-Laws Income Tax Tue, 05 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175787