RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. JCIT (TDS), RANGE - 6, SILIGURI

ITA 2237/KOL/2024Status: DisposedITAT Kolkata11 February 2026AY 2013-201426 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the CIT(A) relied on case laws not directly applicable to the issue of Section 36(1)(viia) deductions. The dispute centers on the method of calculating aggregate average advances for rural branches as per Rule 6ABA, with the assessee arguing for a method that includes opening balances, which the AO and CIT(A) did not fully consider.

What were the facts?

The assessee, Raiganj Central Co-Operative Bank Ltd., is in appeal against orders related to assessment years 2012-13 and 2013-14. The appeals involve disputes over the classification of the assessee as a 'Co-operative Society' versus a 'Company', the imposition of dividend distribution tax, and the calculation of deductions for provision for bad and doubtful debts under Section 36(1)(viia).

What were the issues?

The primary issues are the correct classification of the assessee, the applicability of dividend distribution tax, and the correct method for calculating the deduction for provision for bad and doubtful debts under Section 36(1)(viia) based on Rule 6ABA.

Which sections of the Income-tax Act were involved?

Section 36(1)(viia),Section 115-O,Section 115-P,Section 40(a)(ia),Section 271C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘B’ BENCH, KOLKATA

Before: SHRI GEORGE MATHAN & SHRI RAKESH MISHRA

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

These appeals filed by the assessee are against the separate orders of the Commissioner of Income Tax (Appeals)-NFAC, Delhi [hereinafter referred to as Ld. 'CIT(A)'] passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') for AYs 2012-13 & 2013-14 dated 07.03.2024 and 26.09.2024, respectively. Since the issues are common, all the three appeals were heard together and are being decided vide this common order fo

The order continues below.

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