https://www.taxtmi.com/caselaws?id=467218 Issue concerns whether a cooperative bank's provisioning for standard assets and a bad and doubtful debts reserve qualify as deductible under section 36(1)(viia) and computed under Rule 6ABA. The analysis applies the statutory eligibility criteria to provisioning mandated by RBI prudential norms, examines substance over label (provision for NPA versus bad and doubtful debts), and notes conformity with audited financials, tax audit reports and CBDT circulars explaining legislative intent. Conclusion: such provisioning, when computed as prescribed and reflecting prudential norms, is allowable as a deduction; outcome recorded in favour of the assessee. en-us Tue, 28 Jan 2025 00:00:00 +0530 Mon, 09 Mar 2026 11:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467218 Issue concerns whether a cooperative bank's provisioning for standard assets and a bad and doubtful debts reserve qualify as deductible under section 36(1)(viia) and computed under Rule 6ABA. The analysis applies the statutory eligibility criteria to provisioning mandated by RBI prudential norms, examines substance over label (provision for NPA versus bad and doubtful debts), and notes conformity with audited financials, tax audit reports and CBDT circulars explaining legislative intent. Conclusion: such provisioning, when computed as prescribed and reflecting prudential norms, is allowable as a deduction; outcome recorded in favour of the assessee. Case-Laws Income Tax Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467218