https://www.taxtmi.com/caselaws?id=467242 Deduction for provisions relating to advances is allowable where the aggregate average advances of rural branches are computed in accordance with Rule 6ABA and the CBDT Instruction No.17/2008 methodology; applying that method the Tribunal set aside the confirmation of disallowance and allowed the assessee on the provision of Rs.33,90,000. The characterisation of nominal/entrance fee receipts as capital or revenue requires examination of the assessee's bye laws and relevant RBI master circulars, so that issue is remitted to the Assessing Officer for fresh adjudication with liberty to file evidence. en-us Wed, 08 Mar 2023 00:00:00 +0530 Wed, 11 Mar 2026 19:07:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467242 Deduction for provisions relating to advances is allowable where the aggregate average advances of rural branches are computed in accordance with Rule 6ABA and the CBDT Instruction No.17/2008 methodology; applying that method the Tribunal set aside the confirmation of disallowance and allowed the assessee on the provision of Rs.33,90,000. The characterisation of nominal/entrance fee receipts as capital or revenue requires examination of the assessee's bye laws and relevant RBI master circulars, so that issue is remitted to the Assessing Officer for fresh adjudication with liberty to file evidence. Case-Laws Income Tax Wed, 08 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467242