https://www.taxtmi.com/caselaws?id=401603 The Karnataka HC dismissed the revenue's appeal, ruling that banking companies are not liable for MAT under section 115JB of the Income Tax Act, as previously determined in a prior judgment. Additionally, the Court held that the assessee bank is eligible for a deduction under section 36(1)(vii) for bad debts write-off, again referencing the previous case. en-us Mon, 23 Nov 2020 00:00:00 +0530 Tue, 05 Nov 2024 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401603 The Karnataka HC dismissed the revenue's appeal, ruling that banking companies are not liable for MAT under section 115JB of the Income Tax Act, as previously determined in a prior judgment. Additionally, the Court held that the assessee bank is eligible for a deduction under section 36(1)(vii) for bad debts write-off, again referencing the previous case. Case-Laws Income Tax Mon, 23 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401603