https://www.taxtmi.com/caselaws?id=191261 The Appellate Tribunal ruled in favor of the assessee in a case involving a change in status from a Cooperative Society to a Company and the disallowance of provisions for overdue interest and standard assets under section 36(1)(viia) of the Income Tax Act. The Tribunal restored the status of the assessee as a cooperative society, emphasizing the lack of valid reasoning for the change. Additionally, it allowed the appeal on the disallowance of provisions, noting the complexity of the issue and the need for detailed assessment, particularly given the banking entity's compliance with RBI guidelines. en-us Tue, 07 Apr 2015 00:00:00 +0530 Tue, 28 Mar 2017 11:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191261 The Appellate Tribunal ruled in favor of the assessee in a case involving a change in status from a Cooperative Society to a Company and the disallowance of provisions for overdue interest and standard assets under section 36(1)(viia) of the Income Tax Act. The Tribunal restored the status of the assessee as a cooperative society, emphasizing the lack of valid reasoning for the change. Additionally, it allowed the appeal on the disallowance of provisions, noting the complexity of the issue and the need for detailed assessment, particularly given the banking entity's compliance with RBI guidelines. Case-Laws Income Tax Tue, 07 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191261