https://www.taxtmi.com/caselaws?id=375995 The court ruled in favor of the assessee on the issue of allowing bad debts written off for nonrural branches without considering the provision made for rural branches. However, the Revenue prevailed in determining nonrural branches based on revenue villages rather than solely on population for the provision of bad debts. The court also sided with the assessee regarding the treatment of interest accrued on securities not yet matured as income for the year. The appeal was partly allowed, with the court emphasizing the need for the Assessing Officer to verify previous computations and allowances for bad debts in non-rural branches. en-us Fri, 08 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375995 The court ruled in favor of the assessee on the issue of allowing bad debts written off for nonrural branches without considering the provision made for rural branches. However, the Revenue prevailed in determining nonrural branches based on revenue villages rather than solely on population for the provision of bad debts. The court also sided with the assessee regarding the treatment of interest accrued on securities not yet matured as income for the year. The appeal was partly allowed, with the court emphasizing the need for the Assessing Officer to verify previous computations and allowances for bad debts in non-rural branches. Case-Laws Income Tax Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375995