Syndicate Bank v. DCIT

78 ITD 103Income Tax Appellate Tribunal2001#3523 most cited

What is Syndicate Bank v. DCIT authority for?

A scheduled bank with rural branches is eligible for deduction under section 36(1)(viia) for provision made for bad and doubtful debts, even if the provision does not specifically relate to rural advances.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 366,402 Indian tax judgments — from 2015 to 2024.

Also referred to as

Syndicate Bank v. DCIT · 78 ITD 103 · section 36(1)(viia) · deduction · provision for bad and doubtful debts · rural advances · scheduled banks · ITAT Bangalore

Also reported as

38 Taxmann.com 25

Sections most often in play

Section 115JBSection 14ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)

Issues it is cited on

section 92b(1)section 36(2)(v)section 92(1)legal expensessection 36(1)(v)retrospective amendmentsection 115jb(2)section 36(1)(viia)section 36(1)(viii)corporate guaranteesection 139(5)section 36(2)

Judgments citing Syndicate Bank v. DCIT

Vidharbha Konkan Gramin Bank, Nagpur vs. Income Tax Officer Ward 1(5), Nagpur

In the result, appeal filed by the assessee for A

ITA 8/NAG/2019[2015-2016]Status: DisposedITAT Nagpur28 Nov 2024AY 2015-2016

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

…e provision made in the accounts but with difference to a certain percentage of total income and a certain percentage of the aggregate average advances of rural branches. Similar view is found in the decision of ITAT Delhi in the case of Prathma Bank Vs DCIT (78 ITD 103). 6.3 This issue is decided by various courts of laws through several interpretations. In order to decide the issue, it is necessary to understand the intention of the legislature for enacting this provision. Originally the provision of section 36(1)(viia) was inserted by Finance Act, 1979, so as to allow the deduction of provision made towards ba…

Vidharbha Konkan Gramin Bank, Nagpur vs. Income Tax Officer Ward 1(5), Nagpur

In the result, appeal filed by the assessee for A

ITA 7/NAG/2019[2014-15]Status: DisposedITAT Nagpur28 Nov 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke
Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

…e provision made in the accounts but with difference to a certain percentage of total income and a certain percentage of the aggregate average advances of rural branches. Similar view is found in the decision of ITAT Delhi in the case of Prathma Bank Vs DCIT (78 ITD 103). 6.3 This issue is decided by various courts of laws through several interpretations. In order to decide the issue, it is necessary to understand the intention of the legislature for enacting this provision. Originally the provision of section 36(1)(viia) was inserted by Finance Act, 1979, so as to allow the deduction of provision made towards ba…

ACIT, Amravati Circle, Amravati vs. Chandrapur Dist Central Co-Op Bank Ltd, Chandrapur

In the result, appeal filed by the Revenue is dismissed

ITA 398/NAG/2023[2014-15]Status: DisposedITAT Nagpur18 Sept 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandeep Salonkhe
Section 271(1)(c)Section 36Section 36(1)Section 36(1)(viia)

…invite penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Us. DOIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1)(viia) of I.T. Act 1961 is allowable without making any provisions for bad and doubtful debt in the books of account. The relevant para of decision is reproduced hereunder for reference. "20. The learned CIT has also acted under the misconception that deduction under cl. (viia) is related to the actual amo…

Deputy Commissioner of Income Tax, Amravati & Chandrapur Circle, Amravati vs. Chandrapur District Central Co-Op Bank Ltd., Chandrapur

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 89/NAG/2022[2018-19]Status: DisposedITAT Nagpur21 Aug 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Kailash C. Kanojiya
Section 143(3)Section 271(1)(c)Section 274Section 36(1)(viia)

…invite penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia) of I.T. Act 1961 is allowable without making any provisions for bad and doubtful debt in the books of account. The relevant para of decision is reproduced hereunder for reference. "20. The learned CIT has also acted under the misconception that deduction under cl. (viia) is related to the actual am…

ACIT, Chandrapur Circle, Chandrapur vs. Chandrapur Distt. Central Co-Op Bank Ltd, Chandrapur

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 399/NAG/2019[2015-16]Status: DisposedITAT Nagpur21 Aug 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Kailash C. Kanojiya
Section 143(3)Section 271(1)(c)Section 274Section 36(1)(viia)

…invite penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia) of I.T. Act 1961 is allowable without making any provisions for bad and doubtful debt in the books of account. The relevant para of decision is reproduced hereunder for reference. "20. The learned CIT has also acted under the misconception that deduction under cl. (viia) is related to the actual am…

Assistant Commissioner of Income Tax, Chandrapur Circle, Chandrapur vs. M/S Chandrapur District Central Co-Oprative Bank Limted, Chandrapur

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 241/NAG/2018[2013-14]Status: DisposedITAT Nagpur21 Aug 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Kailash C. Kanojiya
Section 143(3)Section 271(1)(c)Section 274Section 36(1)(viia)

…invite penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia) of I.T. Act 1961 is allowable without making any provisions for bad and doubtful debt in the books of account. The relevant para of decision is reproduced hereunder for reference. "20. The learned CIT has also acted under the misconception that deduction under cl. (viia) is related to the actual am…

M/S Syndicate Bank, Manipal vs. Deputy Commissioner of Income Tax, Circle - 1, Udupi

In the result, appeal of the revenue in ITA No

ITA 1219/BANG/2019[2015-16]Status: DisposedITAT Bangalore08 Aug 2024AY 2015-16

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2015-16

For Appellant: Shri S. Ananthan, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 115JSection 36(1)(vii)Section 36(1)(viia)

…ITA No.186/PAN/2019 Canara Bank (Erstwhile Syndicate Bank), Bangalore Page 11 of 32 provision of Rs. 1445,42,49,751/- and claimed deduction of Rs.1695,59,52,309/- based on the decision of Bangalore Bench of the Tribunal in the assessee's own case reported in 78 ITD 103. Accepting the contentions of the assessee bank that provision need not related to rural advances for the purpose of calculating deduction u/s 36(1)(viia), the learned Commissioner of Income Tax (Appeals) allowed the claim of the bank u/s 36(1)(viia) but restricted the claim to the extent PBDD created by relying on various decisions. 7. After hear…

Gmr Highways Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Circle- 3(1)(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 495/BANG/2020[2016-17]Status: DisposedITAT Bangalore25 May 2022AY 2016-17

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Gmr Highways Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Circle 3(1)(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 1643/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 May 2022AY 2015-16

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

M/S Siddaganga Urban Co-Operative Bank Ltd, Tumkur vs. Assistant Commissioner of Income Tax Circle-1, Tumkur

In the result, we do not find any merit in this appeal, the same fails and is hereby dismissed

ITA 93/BANG/2018[2012-13]Status: DisposedITAT Bangalore25 May 2022AY 2012-13
For Respondent: Shri S.V. Ravishankar
Section 143Section 37

…evenue disallowed the same stating that as per the provision, the deduction are allowed to the extent of the provision made. In support, the Ld.AR relied on decision of coordinate bench of this Tribunal in case of Syndicate Bank versus DCIT reported in (2001) 78 ITD 103. 7.4 On the contrary, the Ld.DR relied on orders passed by authorities below. We have perused submissions advanced by both sides in light of records placed before us. 7.5 We note that bank claimed some of Rs.1,20,01,172/- in the return of income being 10% of the rural advances however debited a sum of ₹ 25 lakhs in its books of account. The Ld.AR…

Assistant Commissioner of Income Tax, Central Circle-2(2), Bengaluru vs. M/S. Gmr Infrastructure Limited, Bengaluru

In the result, Ground no. 1 raised for A

ITA 1744/BANG/2017[2013-14]Status: DisposedITAT Bangalore25 May 2022AY 2013-14

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Assistant Commissioner of Income Tax, Central Circle-2(2), Bangalore vs. M/S. Gmr Infrastructure Limited, Bengaluru

In the result, Ground no. 1 raised for A

ITA 1743/BANG/2017[2012-13]Status: DisposedITAT Bangalore25 May 2022AY 2012-13

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Assistant Commissioner of Income Tax, Central Circle-2(2), Bengaluru vs. M/S. Gmr Infrastructure Limited, Bengaluru

In the result, Ground no. 1 raised for A

ITA 1742/BANG/2017[2011-12]Status: DisposedITAT Bangalore25 May 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Assistant Commissioner of Income Tax Central Circle-2(2), Bangalore vs. M/S Gmr Infrastructure Ltd, Bangalore

In the result, Ground no. 1 raised for A

ITA 1741/BANG/2017[2010-11]Status: DisposedITAT Bangalore25 May 2022AY 2010-11

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Gmr Infrastructure Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 1705/BANG/2017[2010-11]Status: DisposedITAT Bangalore25 May 2022AY 2010-11

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Gmr Infrastructure Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 1622/BANG/2017[2011-12]Status: DisposedITAT Bangalore25 May 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Gmr Infrastructure Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 1600/BANG/2017[2013-14]Status: DisposedITAT Bangalore25 May 2022AY 2013-14

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Gmr Infrastructure Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(2), Bangalore

In the result, Ground no. 1 raised for A

ITA 1599/BANG/2017[2012-13]Status: DisposedITAT Bangalore25 May 2022AY 2012-13

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Yogesh A Thar, CA
Section 14ASection 201Section 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Appeal No. Appellant Respondent Year ITA No. 2010-11 M/s. GMR 1705/Bang/2017 Infrastructure Ltd., The Deputy ITA No. No. 25/1, Skip Commissioner of 2011-12 1622/Bang/2017 House, Income Tax, ITA No. Museum Road, Central Circle 2(2), 2012-13 1599/Bang/2017 Bangalore – 560 025. Bangalore. ITA No. PAN: AABCG8889P 2013-14 1600/Bang/2017 M/s. GMR The Assistant Infrastructure Ltd., Commissioner of No. 25/1, Skip ITA Nos. 1741 to 2010-11 to Income Tax, House, 1744/…

Joint Commissioner of Income Tax, (Ltu), Bengaluru vs. M/S. Vijaya Bank, Bengaluru

In the result, the appeal of the assessee is allowed while the appeal of the Revenue is dismissed

ITA 1832/BANG/2018[2008-09]Status: DisposedITAT Bangalore13 Jan 2021AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri. S.Ananthan, CAFor Respondent: Shri. Pradeep Kumar, CIT (DR) (ITAT), Bengaluru
Section 143(3)Section 147Section 36(1)(viia)

…tween Rs.200,03,24,219 and Rs.7,45,51,455). The CIT(A) by order dated 19.1.2012, deleted the addition made by the AO by following ITA Nos.1832 and 1837/Bang/2018 Page 4 of 22 the decision of the decision of the ITAT in the case of Syndicate Bank reported in 78 ITD 103 wherein it was held that irrespective of the debit to the profit and loss account on account of provision for bad and doubtful debts (PBDD), an Assessee is entitled to 10% of the AARA as deduction u/s.36(1)(viia) of the Act. Against the order of CIT(A), the revenue filed appeal before Tribunal in ITA No.538/Bang/2012 and the said appeal was decide…

Assistant Commissioner of Income Tax Circle-2(1), Hubli vs. M/S Karnataka Vikas Grameen Bank, Dharwad

In the result the disallowance made of Rs

ITA 2054/BANG/2017[2014-15]Status: DisposedITAT Bangalore08 Sept 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2014-15

For Appellant: Shri Pradeep Kumar, CIT(DR)(ITAT), BengaluruFor Respondent: Shri S.V. Ravishankar, Advocate
Section 143(3)Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(2)(v)

…ets in accordance with the guidelines issued by it in this behalf, for an amount not exceeding five per cent of the amount of such assets shown in the books of account of the bank on the last day of the previous year.” 9. In the case of Syndicate Bank (supra) 78 ITD 103 (Bang.), the Bangalore Bench of ITAT took the view that irrespective of the debit to the profit and loss account on account of provision for bad and doubtful debts (PBDD), an Assessee is entitled to 10 percent of the AARA as deduction u/s.36(1)(viia) of the Act. The relevant observations of the Tribunal in the aforesaid decision was as follows: Pa…