https://www.taxtmi.com/caselaws?id=366797 The Tribunal allowed the amortization of expenses on government securities as deductible business expenditure, following precedents favoring such treatment. However, the disallowance of claims under section 36(1)(viia) was upheld, limiting deductions to provisions recorded in the books. Reassessment proceedings for the year 2008-09 were deemed invalid due to a delayed notice issuance, while those for 2009-10 to 2011-12 were upheld based on excess provision claims for bad debts. The Tribunal deferred judgment on the excess provision for non-performing assets, directing further review. Overall, the Tribunal's decisions were a mix of allowances, dismissals, and partial allowances for statistical purposes. en-us Thu, 06 Sep 2018 00:00:00 +0530 Tue, 11 Sep 2018 08:12:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366797 The Tribunal allowed the amortization of expenses on government securities as deductible business expenditure, following precedents favoring such treatment. However, the disallowance of claims under section 36(1)(viia) was upheld, limiting deductions to provisions recorded in the books. Reassessment proceedings for the year 2008-09 were deemed invalid due to a delayed notice issuance, while those for 2009-10 to 2011-12 were upheld based on excess provision claims for bad debts. The Tribunal deferred judgment on the excess provision for non-performing assets, directing further review. Overall, the Tribunal's decisions were a mix of allowances, dismissals, and partial allowances for statistical purposes. Case-Laws Income Tax Thu, 06 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366797