https://www.taxtmi.com/caselaws?id=415251 The Supreme Court partly allowed the appeal filed by the Revenue, directing all matters to be remanded to the Assessment Officer for computation in accordance with law. The Court favored the assessee on issues related to bad debts, provision for bad debts in rural branches, and the revaluation of unquoted securities, citing precedent judgments in support of the assessee's position. The interpretation of the definition of "rural branch" under Section 36(1)(viia) was clarified based on population criteria, with the appeal being allowed in part and remitted for further consideration. en-us Thu, 16 Sep 2021 00:00:00 +0530 Sat, 20 Aug 2022 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415251 The Supreme Court partly allowed the appeal filed by the Revenue, directing all matters to be remanded to the Assessment Officer for computation in accordance with law. The Court favored the assessee on issues related to bad debts, provision for bad debts in rural branches, and the revaluation of unquoted securities, citing precedent judgments in support of the assessee's position. The interpretation of the definition of "rural branch" under Section 36(1)(viia) was clarified based on population criteria, with the appeal being allowed in part and remitted for further consideration. Case-Laws Income Tax Thu, 16 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415251