https://www.taxtmi.com/caselaws?id=270875 The ITAT allowed the appeal of the assessee, reversing the decision of the CIT (A) regarding the deduction under section 36(1)(viia) of the Income Tax Act. The ITAT held that the cooperative bank was entitled to a deduction of 7.5% of the total income and an additional deduction of 10% of the aggregate average rural advances, based on the provisions of the Act, a CBDT circular, and a previous decision of the ITAT Jaipur bench. Consequently, the disallowance of the deduction was overturned, and the assessee's appeal was successful. en-us Wed, 06 Jan 2016 00:00:00 +0530 Tue, 19 Jan 2016 06:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270875 The ITAT allowed the appeal of the assessee, reversing the decision of the CIT (A) regarding the deduction under section 36(1)(viia) of the Income Tax Act. The ITAT held that the cooperative bank was entitled to a deduction of 7.5% of the total income and an additional deduction of 10% of the aggregate average rural advances, based on the provisions of the Act, a CBDT circular, and a previous decision of the ITAT Jaipur bench. Consequently, the disallowance of the deduction was overturned, and the assessee's appeal was successful. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270875