https://www.taxtmi.com/caselaws?id=373245 The court ruled in favor of the assessee in most issues, including the exclusion of bad debts for non-rural branches, determining non-rural branches based on revenue villages, and allowing the write-off of current investments as a loss. However, the court ruled against the assessee in determining non-rural branches solely based on population. The court also held that expenditure for gifts to shareholders is a permissible business expense and that Section 14A does not apply for the assessment year 2004-05. Additionally, the court allowed the write-off of a dividend amount due to a dishonored cheque. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 30 Jun 2026 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373245 The court ruled in favor of the assessee in most issues, including the exclusion of bad debts for non-rural branches, determining non-rural branches based on revenue villages, and allowing the write-off of current investments as a loss. However, the court ruled against the assessee in determining non-rural branches solely based on population. The court also held that expenditure for gifts to shareholders is a permissible business expense and that Section 14A does not apply for the assessment year 2004-05. Additionally, the court allowed the write-off of a dividend amount due to a dishonored cheque. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373245