https://www.taxtmi.com/caselaws?id=181546 Binding High Court interpretations governed multiple banking-tax claims, and several matters were remitted where the factual foundation was incomplete. Section 14A expenditure linked to exempt income had to be recomputed on a rational basis, with Rule 8D applicable only from its operative date. Rural branch deduction under section 36(1)(viia) was confined to revenue-village branches, and bad-debt allowance under section 36(1)(vii) required fresh examination under the clarified proviso regime. Amortised premium on investments and pension-related claims were sent back for de novo consideration. Excess cash was treated as taxable income, leave encashment was disallowed, interest under section 234B was upheld, unclaimed deposits were not taxed as income, and surplus on pledged jewellery was taxable business income. en-us Tue, 31 May 2011 00:00:00 +0530 Tue, 19 Apr 2016 17:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181546 Binding High Court interpretations governed multiple banking-tax claims, and several matters were remitted where the factual foundation was incomplete. Section 14A expenditure linked to exempt income had to be recomputed on a rational basis, with Rule 8D applicable only from its operative date. Rural branch deduction under section 36(1)(viia) was confined to revenue-village branches, and bad-debt allowance under section 36(1)(vii) required fresh examination under the clarified proviso regime. Amortised premium on investments and pension-related claims were sent back for de novo consideration. Excess cash was treated as taxable income, leave encashment was disallowed, interest under section 234B was upheld, unclaimed deposits were not taxed as income, and surplus on pledged jewellery was taxable business income. Case-Laws Income Tax Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181546