https://www.taxtmi.com/caselaws?id=462276 ITAT Bangalore allowed several claims by the assessee bank. Section 14A disallowance was decided following Karnataka HC precedent upholding assessee's position. MAT provisions under section 115JB were held inapplicable to banking companies, following Delhi HC decision. CSR expenditure was allowed as business deduction under section 37(1), following Eastern Coalfields precedent regarding commercial expediency. Issues regarding section 36(1)(viia) deduction for bad debts, RBI penalty disallowance, and club expenses were remanded to AO for verification and reconsideration per legal requirements. en-us Fri, 22 Dec 2023 00:00:00 +0530 Sat, 07 Jun 2025 12:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462276 ITAT Bangalore allowed several claims by the assessee bank. Section 14A disallowance was decided following Karnataka HC precedent upholding assessee's position. MAT provisions under section 115JB were held inapplicable to banking companies, following Delhi HC decision. CSR expenditure was allowed as business deduction under section 37(1), following Eastern Coalfields precedent regarding commercial expediency. Issues regarding section 36(1)(viia) deduction for bad debts, RBI penalty disallowance, and club expenses were remanded to AO for verification and reconsideration per legal requirements. Case-Laws Income Tax Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462276