https://www.taxtmi.com/caselaws?id=313465 ITAT Delhi ruled in favor of the assessee regarding deduction under section 36(1)(viia). The AO had restricted the deduction to the amount of reserve created in books, but the tribunal held that the assessee was entitled to claim 10% of aggregate rural advances as deduction. The decision was based on coordinate bench precedent and SC rulings in Southern Technologies Ltd. and Catholic Syrian Bank Ltd. cases, confirming the allowability of the claimed deduction. en-us Tue, 22 Oct 2019 00:00:00 +0530 Tue, 16 Apr 2024 20:37:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313465 ITAT Delhi ruled in favor of the assessee regarding deduction under section 36(1)(viia). The AO had restricted the deduction to the amount of reserve created in books, but the tribunal held that the assessee was entitled to claim 10% of aggregate rural advances as deduction. The decision was based on coordinate bench precedent and SC rulings in Southern Technologies Ltd. and Catholic Syrian Bank Ltd. cases, confirming the allowability of the claimed deduction. Case-Laws Income Tax Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313465