2010 (8) TMI 1076

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....: Vasundhara Sinha ORDER G. C. Gupta (Vice President) This appeal by the assessee for the assessment year 2006-07 is directed against the order of the Commissioner of Income-tax (Appeals). 2. The assessee, a public sector undertaking, has received COD approval only with respect to its ground of appeal No.4 before the Tribunal. Accordingly, other grounds of the assessee in this appeal a....

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....er S.36(1)(viia) of the Act separately. He submitted that though the CIT(A) has directed the Assessing Officer to verify and allow the claim of Rs. 172.79 crores made under S.36(1)(vii), he has not directed the Assessing Officer to verify and allow the other claim of the assessee made under S.36(1)(viia) of the Act. He relied on a series of decisions, noted hereunder, in support of the above submi....

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....t. We find that in accordance with the provisions of S.36(1)(viia) of the Act, the bank is entitled to deduction at a certain percentage of total income and 10% of the rural branch advances, as per the provisions of S.36(1)(viia) provided the conditions laid down in this section are fulfilled. We find that the CIT(A) has directed the Assessing Officer to verify and allow the claim of the assessee ....