https://www.taxtmi.com/caselaws?id=357034 The High Court allowed the appeal, set aside the order disallowing deduction for provision of bad debts, and remanded the matter to the Tribunal for fresh consideration. The appellant, a Co-operative Bank, contended that denial of deduction based on RBI guidelines not being binding was unjustified as they are obligated to follow such guidelines. The court emphasized that any view disregarding RBI guidelines would hinder the assessee from claiming the deduction under Section 36(1)(viia) of the Income Tax Act. The Tribunal was instructed to allow the appellant to submit necessary documents for consideration in support of the deduction. en-us Mon, 29 Jan 2018 00:00:00 +0530 Fri, 16 Mar 2018 08:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357034 The High Court allowed the appeal, set aside the order disallowing deduction for provision of bad debts, and remanded the matter to the Tribunal for fresh consideration. The appellant, a Co-operative Bank, contended that denial of deduction based on RBI guidelines not being binding was unjustified as they are obligated to follow such guidelines. The court emphasized that any view disregarding RBI guidelines would hinder the assessee from claiming the deduction under Section 36(1)(viia) of the Income Tax Act. The Tribunal was instructed to allow the appellant to submit necessary documents for consideration in support of the deduction. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357034