https://www.taxtmi.com/caselaws?id=778520 Assessee engaged in advancing loans and in taking share capital participation in industrial concerns for industrial development was treated as a public financial institution meeting the guideline requirements under section 4A of the Companies Act, 1956. On that basis, and noting consistent acceptance of the claim in earlier assessment years, the disallowance of deduction under section 36(1)(viia) and section 36(1)(vii) of the Income-tax Act, 1961 was found unsustainable. The assessee was held entitled to both deductions, and the disallowance was deleted. en-us Fri, 17 Jan 2025 00:00:00 +0530 Thu, 18 Sep 2025 08:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778520 Assessee engaged in advancing loans and in taking share capital participation in industrial concerns for industrial development was treated as a public financial institution meeting the guideline requirements under section 4A of the Companies Act, 1956. On that basis, and noting consistent acceptance of the claim in earlier assessment years, the disallowance of deduction under section 36(1)(viia) and section 36(1)(vii) of the Income-tax Act, 1961 was found unsustainable. The assessee was held entitled to both deductions, and the disallowance was deleted. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778520