https://www.taxtmi.com/caselaws?id=432679 A co-operative bank may claim deduction for advances made through rural branches under section 36(1)(viia), as the amended provision extends the benefit to co-operative banks other than excluded categories and the rural branch explanation does not bar such claims. A statutory transfer to bad debts reserve is also deductible where it is a mandatory appropriation under co-operative law, even if not separately debited in the profit and loss account, because accounting nomenclature is not ative when the deduction is otherwise allowable in law. The stated approach sustained the assessee's claims and rejected the Revenue's disallowance. en-us Mon, 09 Jan 2023 00:00:00 +0530 Wed, 11 Jan 2023 09:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432679 A co-operative bank may claim deduction for advances made through rural branches under section 36(1)(viia), as the amended provision extends the benefit to co-operative banks other than excluded categories and the rural branch explanation does not bar such claims. A statutory transfer to bad debts reserve is also deductible where it is a mandatory appropriation under co-operative law, even if not separately debited in the profit and loss account, because accounting nomenclature is not ative when the deduction is otherwise allowable in law. The stated approach sustained the assessee's claims and rejected the Revenue's disallowance. Case-Laws Income Tax Mon, 09 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432679