https://www.taxtmi.com/caselaws?id=385463 ITAT Chennai partly allowed the appeal. Broken-period interest paid on purchase of securities was allowed where corresponding broken-period interest was treated as business income. Depreciation on investments shifted to HTM and a technical bad-debt write-off under s.36(1)(vii) were allowed. Depreciation on ATMs at 60% was upheld. Sec.115JB (MAT) adjustments were held inapplicable to banks. Foreign-branch income must be included in Indian return with foreign-tax credit only. Disallowance under s.14A r.w. Rule 8D limited to exempt income. Rule 6ABA computation for s.36(1)(viia) must use outstanding rural advances. MAT credit on amalgamation granted. Deduction under s.36(1)(viii) remanded for recomputation by AO. en-us Wed, 28 Aug 2019 00:00:00 +0530 Fri, 22 Aug 2025 22:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385463 ITAT Chennai partly allowed the appeal. Broken-period interest paid on purchase of securities was allowed where corresponding broken-period interest was treated as business income. Depreciation on investments shifted to HTM and a technical bad-debt write-off under s.36(1)(vii) were allowed. Depreciation on ATMs at 60% was upheld. Sec.115JB (MAT) adjustments were held inapplicable to banks. Foreign-branch income must be included in Indian return with foreign-tax credit only. Disallowance under s.14A r.w. Rule 8D limited to exempt income. Rule 6ABA computation for s.36(1)(viia) must use outstanding rural advances. MAT credit on amalgamation granted. Deduction under s.36(1)(viii) remanded for recomputation by AO. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385463