https://www.taxtmi.com/caselaws?id=440585 The appellate tribunal allowed the appeal of a cooperative bank, holding that the bank was entitled to an additional claim of Rs 22,50,000 under section 36(1)(viii) of the Income Tax Act. The tribunal found the claim genuine despite not being made through a revised return, citing precedents where such claims were allowed. The tribunal emphasized that the failure to file a revised return was the only reason for disallowance by the assessing officer and upheld the bank's right to the deduction. en-us Wed, 19 Jul 2023 00:00:00 +0530 Thu, 20 Jul 2023 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440585 The appellate tribunal allowed the appeal of a cooperative bank, holding that the bank was entitled to an additional claim of Rs 22,50,000 under section 36(1)(viii) of the Income Tax Act. The tribunal found the claim genuine despite not being made through a revised return, citing precedents where such claims were allowed. The tribunal emphasized that the failure to file a revised return was the only reason for disallowance by the assessing officer and upheld the bank's right to the deduction. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440585