https://www.taxtmi.com/caselaws?id=471420 Banking tax computation allows net depreciation on restructured equity and preference shares where valuation follows RBI guidelines. Appellate enhancement cannot disallow depreciation on security receipts that was not examined in assessment, as it would introduce a new source of income. Bad-debt and qualifying technical write-offs on non-rural advances need not be adjusted against the rural-advance provision. Section 14A and Rule 8D do not produce further expenditure disallowance for banks' stock-in-trade securities. Stale draft balances and advance receipts remain liabilities rather than taxable income. Rural-branch provision deduction uses month-end aggregate average advances, while business ex-gratia payments are deductible. en-us Fri, 20 Sep 2024 00:00:00 +0530 Wed, 02 Sep 2026 13:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471420 Banking tax computation allows net depreciation on restructured equity and preference shares where valuation follows RBI guidelines. Appellate enhancement cannot disallow depreciation on security receipts that was not examined in assessment, as it would introduce a new source of income. Bad-debt and qualifying technical write-offs on non-rural advances need not be adjusted against the rural-advance provision. Section 14A and Rule 8D do not produce further expenditure disallowance for banks' stock-in-trade securities. Stale draft balances and advance receipts remain liabilities rather than taxable income. Rural-branch provision deduction uses month-end aggregate average advances, while business ex-gratia payments are deductible. Case-Laws Income Tax Fri, 20 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471420