https://www.taxtmi.com/caselaws?id=390319 The ITAT allowed the appeal of a Co-operative Bank, holding that it is entitled to claim a deduction under section 36(1)(viia) of the Income Tax Act, 1961, up to 7.5% of total income, despite the absence of rural branches. The Tribunal emphasized the need for a provision for bad and doubtful debts in the books of account to avail of the deduction. Relying on precedents and legal interpretations, the ITAT concluded in favor of the assessee, based on consistent application of the law. en-us Fri, 20 Dec 2019 00:00:00 +0530 Sun, 29 Dec 2019 09:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390319 The ITAT allowed the appeal of a Co-operative Bank, holding that it is entitled to claim a deduction under section 36(1)(viia) of the Income Tax Act, 1961, up to 7.5% of total income, despite the absence of rural branches. The Tribunal emphasized the need for a provision for bad and doubtful debts in the books of account to avail of the deduction. Relying on precedents and legal interpretations, the ITAT concluded in favor of the assessee, based on consistent application of the law. Case-Laws Income Tax Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390319