https://www.taxtmi.com/caselaws?id=299027 The High Court of Kerala addressed issues related to bad debts, valuation of unquoted securities, and provision claims under the Income Tax Act. The Court upheld the assessee's claims on bad debts and provision, citing specific provisions and directing remand for proper computation. It ruled in favor of the assessee on the valuation of unquoted securities based on rational methods. However, it sided with the Revenue on the provision claim under Section 36(1)(viia), classifying branches based on population criteria and reinstating the assessment. The Court allowed the appeal in part, remitting the matter for further action in accordance with the law. en-us Wed, 14 Jul 2021 00:00:00 +0530 Mon, 22 Aug 2022 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299027 The High Court of Kerala addressed issues related to bad debts, valuation of unquoted securities, and provision claims under the Income Tax Act. The Court upheld the assessee's claims on bad debts and provision, citing specific provisions and directing remand for proper computation. It ruled in favor of the assessee on the valuation of unquoted securities based on rational methods. However, it sided with the Revenue on the provision claim under Section 36(1)(viia), classifying branches based on population criteria and reinstating the assessment. The Court allowed the appeal in part, remitting the matter for further action in accordance with the law. Case-Laws Income Tax Wed, 14 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299027