https://www.taxtmi.com/caselaws?id=307673 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's appeal. The disallowance of depreciation claimed on investments held to maturity was rejected, citing previous court decisions allowing valuation at cost or market price. The disallowance under Section 14A was remanded for fresh examination in light of a Supreme Court ruling. The disallowance under Section 36(1)(viia) for bad debts was overturned, requiring computation based on total outstanding advances. The disallowance of bad debts under Section 36(1)(vii) was allowed without adjustment against the PBDD account for non-rural branches. The claim for deduction of Education cess was dismissed per the Finance Act, 2022. en-us Thu, 26 May 2022 00:00:00 +0530 Fri, 28 Apr 2023 21:10:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307673 The Tribunal dismissed the revenue's appeal and partly allowed the assessee's appeal. The disallowance of depreciation claimed on investments held to maturity was rejected, citing previous court decisions allowing valuation at cost or market price. The disallowance under Section 14A was remanded for fresh examination in light of a Supreme Court ruling. The disallowance under Section 36(1)(viia) for bad debts was overturned, requiring computation based on total outstanding advances. The disallowance of bad debts under Section 36(1)(vii) was allowed without adjustment against the PBDD account for non-rural branches. The claim for deduction of Education cess was dismissed per the Finance Act, 2022. Case-Laws Income Tax Thu, 26 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307673