https://www.taxtmi.com/caselaws?id=449885 The ITAT Bangalore ruled in favor of the assessee on multiple issues. Section 14A disallowance was rejected as no actual expenditure was incurred. Bad debt deduction u/s 36(1)(vii) for non-rural branches was allowed without adjusting against provision account, following precedent. For MAT computation u/s 115JB, provisions for HD commission required verification while actuarial-based provisions for gratuity and bonus were allowed as ascertained liabilities. The revised book profit computation issue was remitted for fresh consideration. Deduction u/s 36(1)(viia) was upheld including outstanding advances, with rural branch classification remitted back to AO for verification using latest census data. en-us Mon, 19 Feb 2024 00:00:00 +0530 Wed, 21 Feb 2024 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449885 The ITAT Bangalore ruled in favor of the assessee on multiple issues. Section 14A disallowance was rejected as no actual expenditure was incurred. Bad debt deduction u/s 36(1)(vii) for non-rural branches was allowed without adjusting against provision account, following precedent. For MAT computation u/s 115JB, provisions for HD commission required verification while actuarial-based provisions for gratuity and bonus were allowed as ascertained liabilities. The revised book profit computation issue was remitted for fresh consideration. Deduction u/s 36(1)(viia) was upheld including outstanding advances, with rural branch classification remitted back to AO for verification using latest census data. Case-Laws Income Tax Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449885