https://www.taxtmi.com/caselaws?id=446255 ITAT Bangalore ruled on multiple issues for a bank. The tribunal allowed deduction of bad debts under section 36(1)(vii) for non-rural advances, holding proviso doesn't apply to such advances. For section 14A disallowance, tribunal followed jurisdictional HC precedent favoring assessee where no expenditure was incurred for exempt income. Issues regarding rural branch classification for section 36(1)(viia), section 115JB applicability to corresponding new bank, and RBI penalty deductibility were remitted to CIT(A) for fresh consideration with proper documentary evidence and legal analysis. en-us Wed, 25 Oct 2023 00:00:00 +0530 Tue, 28 Nov 2023 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446255 ITAT Bangalore ruled on multiple issues for a bank. The tribunal allowed deduction of bad debts under section 36(1)(vii) for non-rural advances, holding proviso doesn't apply to such advances. For section 14A disallowance, tribunal followed jurisdictional HC precedent favoring assessee where no expenditure was incurred for exempt income. Issues regarding rural branch classification for section 36(1)(viia), section 115JB applicability to corresponding new bank, and RBI penalty deductibility were remitted to CIT(A) for fresh consideration with proper documentary evidence and legal analysis. Case-Laws Income Tax Wed, 25 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446255