https://www.taxtmi.com/caselaws?id=301606 The tribunal upheld the reopening of assessment citing tangible information indicating possible income escapement. Recovery of bad debts written off in rural branches was allowed as a deduction subject to verification by the AO. The disallowance under Section 40(a)(ia) was allowed for statistical purposes pending evidence from the assessee. The tribunal affirmed that Section 115JB did not apply to the bank, as per the CIT(A)'s decision. The revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes. en-us Wed, 03 Mar 2021 00:00:00 +0530 Tue, 12 Apr 2022 09:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301606 The tribunal upheld the reopening of assessment citing tangible information indicating possible income escapement. Recovery of bad debts written off in rural branches was allowed as a deduction subject to verification by the AO. The disallowance under Section 40(a)(ia) was allowed for statistical purposes pending evidence from the assessee. The tribunal affirmed that Section 115JB did not apply to the bank, as per the CIT(A)'s decision. The revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 03 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301606