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“Section 36(2)(v)”

Section References (mined)Section 36Section 36(2)(v)104 judgments

The decision most relied on for Section 36(2)(v) is CIT v. Reliance Utilities & Power Ltd. (313 ITR 340), cited in 2,118 judgments on BharatTax.

Leading authorities on Section 36(2)(v)

CIT v. Reliance Utilities & Power Ltd.
313 ITR 340 · 2009 · High Court
2,118
citing judgments

Where an assessee claims that investments were made out of own funds, interest disallowance under Section 14A read with Rule 8D may not apply if the assessee demonstrates the availability of sufficient interest-free funds to cover such investments.

CIT v. AIMIL Ltd.
321 ITR 508 · 2010 · High Court
1,629
citing judgments

Employee contributions to PF and ESIC, deposited beyond the due date under the respective Acts but within the due date for filing the income tax return under Section 139(1), are allowable deductions under Section 36(1)(va). Such disallowance cannot be made during processing under Section 143(1).

Checkmate Services Pvt. Ltd. v. CIT
143 Taxmann.com 178 · 2022 · Supreme Court
1,392
citing judgments

Employee contributions to provident fund and ESI deposited by an employer beyond the due dates prescribed under the respective special Acts are not allowable as a deduction under section 36(1)(va) of the Income-tax Act, 1961. Such disallowance can be made during processing under section 143(1).

CIT v. Alom Extrusions Ltd.
319 ITR 306 · 2009 · Supreme Court
1,344
citing judgments

A proviso inserted into a section to remedy unintended consequences, make the section workable, or supply an obvious omission must be read retrospectively in operation to give effect to the section as a whole.

CIT v. Gujarat State Road Transport Corporation
366 ITR 170 · 2014 · High Court
1,158
citing judgments

Employees' contributions to welfare funds, such as provident fund, are not allowable as a deduction under section 36(1)(va) if deposited beyond the due date prescribed under the respective welfare statutes, even by a single day. Such delayed deposits are not cured even if made before the income-tax return filing due date.

TRF Ltd. v. CIT
323 ITR 397 · 2010 · Supreme Court
714
citing judgments

For claiming deduction for bad debts under section 36(1)(vii) of the Income Tax Act, it is sufficient for the assessee to write off the debt as irrecoverable in its accounts, and it is not necessary to prove that the debt has actually become irrecoverable.

279 ITR 331/149 Taxman 15 (Guj.); 5. CIT v. Sabari Enterprises
298 ITR 141 · 2008 · High Court
706
citing judgments

Employee contributions to provident fund or ESI, even if deposited after the due date specified in the respective welfare statutes, are allowable as a deduction under Section 36(1)(va) if paid before the due date for filing the income-tax return. This judgment aligns the treatment of employee contributions with employer contributions under Section 43B.

(i) CIT v. Merchem Ltd.
378 ITR 443 · 2015 · High Court
631
citing judgments

Belated remittance of employees' contribution to ESI and PF, even if deposited before the due date for filing the return of income under Section 139(1), is not allowed as a deduction. This disallowance falls under Section 36(1)(va) read with Section 2(24)(x), as Section 43B applies only to employer's contributions.

Judgments citing Section 36(2)(v)

Bajaj Housing Finance Limited, Pune vs. The Principal Commissioner of Income Tax-3, Pune

In the result, appeal of the assessee is allowed

ITA 564/PUN/2023[2018-19]Status: DisposedITAT Pune26 Feb 2024AY 2018-19

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.564/Pun/2023 िनधा"रण वष" / Assessment Year : 2018-19 Bajaj Housing Finance Limited, The Principal 3Rd Floor, Panchsil Tech Park, V Commissioner Of Income Viman Nagar, Pune – 411014. S Tax-3, Pune. Pan: Aadcb6018P Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala & Ms.Vasanti B.Patel – Ar’S Revenue By Shri Keyur Patel – Cit(Dr) Date Of Hearing 12/01/2024 Date Of Pronouncement 26/02/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Under Section 263 Of The Income Tax Act, 1961, Passed By Ld.Principal Commissioner Of Income Tax, Pune-3 On 14.03.2023. In This Case, Assessment Order Was Passed On 26.02.2021. The Assessee Has Raised The Following Grounds Of Appeal : 1. Ground I: Challenging The Validity Of Revision Proceedings Under Section 263 Of The Act 1.1. The Learned Pcit Failed To Appreciate That The Assessment Order Passed By The Assistant Commissioner Of Income Tax, Circle 8, Pune (Hereinafter Referred To As Learned Ao) Under Section 143(3) Of The Act Bajaj Housing Finance Limited [A]

Section 143(1)Section 143(3)Section 2Section 263Section 36Section 36(1)(viia)

total income (computed before making any deduction under the relevant clauses of this section and Chapter VIA shall be allowed as deduction. Further, Section 36(2)(v) provides that no such deduction shall be allowed unless the assessee has debited the amount of such debt or part of debt

Deputy Commissioner of Income Tax Circle 1(1), Mangaluru vs. Karnataka Bank Ltd., Mangaluru

In the result, the appeal of the revenue for AYs 2016-17 and

ITA 964/BANG/2023[2017-18]Status: DisposedITAT Bangalore19 Feb 2024AY 2017-18

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Ananthan, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 115JSection 143(3)Section 14A

debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. Hence the CIT(A) rejected the submissions of the assessee and confirmed ... debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. It has also been interpreted that there are separate accounts in respect

Deputy Commissioner of Income Tax Circle 1(1), Mangaluru vs. Karnataka Bank Ltd., Mangaluru

ITA 963/BANG/2023[2016-17]Status: DisposedITAT Bangalore19 Feb 2024AY 2016-17

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

Section 115JSection 143(3)Section 14A

debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. Hence the CIT(A) rejected the submissions of the assessee and confirmed ... debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. It has also been interpreted that there are separate accounts in respect

Karnataka Bank Ltd, Mangalore vs. Assistant Commissioner of Income Tax, Mangalore

ITA 877/BANG/2023[2017-18]Status: DisposedITAT Bangalore19 Feb 2024AY 2017-18
Section 115JSection 143(3)Section 14A

debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. Hence the CIT(A) rejected the submissions of the assessee and confirmed ... debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. It has also been interpreted that there are separate accounts in respect

Karnataka Bank Ltd, Mangalore vs. Deputy Commissioner of Income Tax, Mangalore

ITA 876/BANG/2023[2016-17]Status: DisposedITAT Bangalore19 Feb 2024AY 2016-17
Section 115JSection 143(3)Section 14A

debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. Hence the CIT(A) rejected the submissions of the assessee and confirmed

Kerala State Financial Enterprises Limited, Thrissur vs. DCIT Circle 1(1) & Tps, Thrissur

In the result, the assessee’s appeal is dismissed

ITA 933/COCH/2022[2017-18]Status: DisposedITAT Cochin16 Jan 2024AY 2017-18

Bench: Shri Sanjay Arora & Shri Manomohan Daskerala State Financial Dy. Cit, Circle - 1(1) & Tps Enterprises Ltd. Thrissur Bhadratha, Museum Road Vs. Chembukkavu - 680020 Thrissur [Pan:Aabct3817A] (Appellant) (Respondent)

For Appellant: Shri Harikrishnanunny, CAFor Respondent: Shri Sanjit Kumar Das, CIT-DR
Section 143(3)Section 36(1)(vii)

recovery in an account qua which such a provision has been made, would be accompanied by a reversal of provision to that extent (section 36(2)(v)). All the applicable provisions are to be read in harmony and consistent with each other.’ 5. The matter, clearly, therefore, ought to travel

DCIT, Circle-2(2), Surat vs. The Surat District Co-Op. Bank Limited, Surat

In the result, ground No.6 raised by the assessee, is allowed for statistical purposes

ITA 4/SRT/2020[2011-12]Status: DisposedITAT Surat14 Jul 2023AY 2011-12

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.590/Srt/2019 Assessment Year: (2011-12) (Physical Hearing) The Surat District Co.Op. Bank Ltd., Vs. The Acit, Circle-2(2), Shri Pramodbhai Desai Sahakar Bhavan, Surat. J. P. Road, Athwa Gate, Surat – 395001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaat2985Q (Assessee) (Respondent) आयकर अपील सं./Ita No.4/Srt/2020 Assessment Year: (2011-12) The Dcit, Circle-2(2), Vs. The Surat District Co.Op. Bank Ltd., Surat. Shri Pramodbhai Desai Sahakar Bhavan, J. P. Road, Athwa Gate, Surat – 395001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaat2985Q (Assessee) (Respondent)

Section 143(3)Section 36Section 36(1)(viia)Section 40

clear from the scheme of the Act. As far as the question of double benefit is concerned, the Legislature in its wisdom introduced Section 36(2)(v) by the Finance Act, 1985 with effect from 01.04.1985. Section 36(2)(v) concerns itself as a check for claim of any double

The Surat District Co-Op. Bank Ltd, Surat vs. The Assistant Commissioner of Income Tax, Circle-2(2), Surat

In the result, ground No.6 raised by the assessee, is allowed for statistical purposes

ITA 590/SRT/2019[2011-12]Status: DisposedITAT Surat14 Jul 2023AY 2011-12

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.590/Srt/2019 Assessment Year: (2011-12) (Physical Hearing) The Surat District Co.Op. Bank Ltd., Vs. The Acit, Circle-2(2), Shri Pramodbhai Desai Sahakar Bhavan, Surat. J. P. Road, Athwa Gate, Surat – 395001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaat2985Q (Assessee) (Respondent) आयकर अपील सं./Ita No.4/Srt/2020 Assessment Year: (2011-12) The Dcit, Circle-2(2), Vs. The Surat District Co.Op. Bank Ltd., Surat. Shri Pramodbhai Desai Sahakar Bhavan, J. P. Road, Athwa Gate, Surat – 395001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaaat2985Q (Assessee) (Respondent)

Section 143(3)Section 36Section 36(1)(viia)Section 40

clear from the scheme of the Act. As far as the question of double benefit is concerned, the Legislature in its wisdom introduced Section 36(2)(v) by the Finance Act, 1985 with effect from 01.04.1985. Section 36(2)(v) concerns itself as a check for claim of any double

Asst CIT Cir 2(2)(1), Mumbai vs. State Bank of India, Mumbai

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

ITA 4564/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

credit balance in the provision for bad and doubtful debts accounts made under section 36(1)(viia) of the Act. Further, as per section 36(2)(v) of the Act, where a debt made by the assessee to which section 36(1)(viia) of the Act applies, no deduction shall ... proviso to Section 36(1)(vii) will relate to cases covered under Section 36(1)(viia) and has to be read with Section 36(2)(v) of the Act. Thus, the proviso would not permit benefit of double deduction, operating with reference to rural loans while under Section 36

State Bank of India, Mumbai vs. Addl CIT RG 2(2), Mumbai

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

ITA 3645/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

credit balance in the provision for bad and doubtful debts accounts made under section 36(1)(viia) of the Act. Further, as per section 36(2)(v) of the Act, where a debt made by the assessee to which section 36(1)(viia) of the Act applies, no deduction shall ... proviso to Section 36(1)(vii) will relate to cases covered under Section 36(1)(viia) and has to be read with Section 36(2)(v) of the Act. Thus, the proviso would not permit benefit of double deduction, operating with reference to rural loans while under Section 36

ACIT, Khandwa vs. M/S Jila Sahakari Kendriya Bank, Khargone

ITA 497/IND/2018[12-13]Status: DisposedITAT Indore28 Apr 2023

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2012-13 Acit M/S. Jila Sahakari Khandwa Kendriya Bank, बनाम/ Khandwa Raod, Khargone Vs. M.P. (Appellant /Revenue) (Respondent / Assessee) Pan: Aaatj 0529 K Revenue By Shri P.K. Mishra, Cit-Dr Assessee By Shri Subhash Jain & Milind Wadhwani, Ars Date Of Hearing 01.02.2023 Date Of Pronouncement 28.04.2023

Section 143(3)Section 147Section 148Section 36(1)(viia)Section 37

viia) as considered by AO while finalizing assessment; it was an “actual bad-debt” directly allowable u/s 36(1)(vii) read with section 36(2)(v) of the act. In nutshell, the assessee claimed that the AO has wrongly invoked section 36(1)(viia) which is applicable to “provision

ADIT (I.T)-3(2), Mumbai vs. M/S. the Bank of Nova Scotia, Mumbai

In the result, appeal of the assessee is partly allowed

ITA 651/MUM/2007[2002-2003]Status: DisposedITAT Mumbai21 Apr 2023AY 2002-2003

Bench: Shri Vikas Awasthy& Shri Amarjit Singh आअसं.6818/मुं/2006 ("न.व. 2002-03) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Deputy Director Of Income Tax (International Taxation)-3(2), Scindia House, Ballard Pier, Mumbai 400 038. ..... ""तवाद"/Respondent आअसं.651/मुं/2007 ("न.व. 2002-03) Adit(It)-3(2),Mumbai R. No.132, 1St Floor, N.M.Road, Mumbai – 400 038. ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ..... ""तवाद"/Respondent

For Appellant: Shri Nishant Thakkar with Ms. Jasmin AmasadvalaFor Respondent: Shri Soumendu Kumar Dash
Section 14ASection 36(1)(vii)Section 40Section 44C

such debts to the provision for bad and doubtful debt account under section 36(1)(viia) of the Act , as required by section 36(2)(v) of the Act. (ii) While considering the claim for bad debts under section 36(1)(vii), the Assessing Officer should allow only such amount

M/S. the Bank of Nova Scotia, Mumbai vs. DDIT (I.T) - 3(20, Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6818/MUM/2006[2002-2003]Status: DisposedITAT Mumbai21 Apr 2023AY 2002-2003

Bench: Shri Vikas Awasthy& Shri Amarjit Singh आअसं.6818/मुं/2006 ("न.व. 2002-03) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Deputy Director Of Income Tax (International Taxation)-3(2), Scindia House, Ballard Pier, Mumbai 400 038. ..... ""तवाद"/Respondent आअसं.651/मुं/2007 ("न.व. 2002-03) Adit(It)-3(2),Mumbai R. No.132, 1St Floor, N.M.Road, Mumbai – 400 038. ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ..... ""तवाद"/Respondent

For Appellant: Shri Nishant Thakkar with Ms. Jasmin AmasadvalaFor Respondent: Shri Soumendu Kumar Dash
Section 14ASection 36(1)(vii)Section 40Section 44C

such debts to the provision for bad and doubtful debt account under section 36(1)(viia) of the Act , as required by section 36(2)(v) of the Act. (ii) While considering the claim for bad debts under section 36(1)(vii), the Assessing Officer should allow only such amount

The State Bank of Patiala, Patiala vs. ACIT, Patiala

ITA 538/CHANDI/2017[2014-15]Status: HeardITAT Mumbai10 Nov 2022AY 2014-15

Bench: Shri Pramod Kumar, Shri Aby T. Varkey & Shri Sandeep Singh Karhail

For Appellant: Shri P.J. Pardiwala Sr. Adv. a/wFor Respondent: Shri A.B. Koli, CIT DR
Section 36(1)(viia)

write off bad and doubtful debts of rural or non-rural advance under section 36(1)(v) read with the proviso thereunder and section 36(2)(v) of the Act would fail.‖ Thus, it is evident from the above extract that the quantum of deduction arrived at by the assessing

The State Bank of India (Successor to State Bank of Patiala), Patiala vs. DCIT, Circle, Patiala

ITA 1259/CHANDI/2017[2015-16]Status: HeardITAT Mumbai10 Nov 2022AY 2015-16

Bench: Shri Pramod Kumar, Shri Aby T. Varkey & Shri Sandeep Singh Karhail

For Appellant: Shri P.J. Pardiwala Sr. Adv. a/wFor Respondent: Shri A.B. Koli, CIT DR
Section 36(1)(viia)

write off bad and doubtful debts of rural or non-rural advance under section 36(1)(v) read with the proviso thereunder and section 36(2)(v) of the Act would fail.‖ Thus, it is evident from the above extract that the quantum of deduction arrived at by the assessing

ACIT - 2(3)(1), Mumbai vs. Lord Krishna Bank Ltd. (No Merged With Hdfc Bank Ltd.), Mumbai

In the result, the appeal of the revenue is dismissed

ITA 6186/MUM/2016[2002-03]Status: DisposedITAT Mumbai24 Jun 2022AY 2002-03
For Appellant: Shri Yogesh Thar/Chaitanya JoshiFor Respondent: Shri Ashish Deharia (Sr. AR)
Section 143(3)Section 147Section 148Section 2Section 36(1)(vii)Section 36(1)(viia)

A.Y.2003-04, the quantum of deductions u/s.36(1)(vii) and 36(1)(viia) were determined by invoking the provisions of these sections alongwith sections 36(2)(v) and 41(1) of the IT Act, 1961. Accordingly, assessee’s claim of deduction u/s.36(1)(viia) of Rs.6.05 crores was allowed

The Karnataka Bank Ltd, Mangaluru vs. Deputy Commissioner of Income Tax, Circle-2(1), Mangaluru

In the result, the appeal filed by the Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 1907/BANG/2018[2014-15]Status: DisposedITAT Bangalore26 May 2022AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranthe Karnataka Bank Ltd. Dcit, Circle - 2(1) Head Office, Mahaveera Circle Mangalore Vs. Kankanady Mangalore 575002 Pan – Aabct5589K Appellant Respondent Dcit, Circle – 2(1) The Karnataka Bank Ltd. Mangalore Head Office, Mahaveera Circle Vs. Kankanady Mangalore 575002 Pan – Aabct5589K Appellant Respondent Assessee By: Shri S. Ananthan, Ca & Smt. Lalitha Rameswaran, Ca Revenue By: Shri Mudavathu Harish Chandra Naik, Ca Date Of Hearing: 22.03.2022 Date Of Pronouncement: 26.05.2022 O R D E R Per: B.R. Baskaran, A.M. These Cross Appeals Are Directed Against The Order Dated 27-03-2018 Passed By Ld Cit(A), Mangaluru & They Relate To The Assessment Year 2014-15. 2. The Assessee Is A Banking Company Carrying On Banking Business. The Karnataka Bank Ltd.

For Appellant: Shri S. Ananthan, CA &For Respondent: Shri Mudavathu Harish
Section 14A

debts account made under clause (viia) of section 36(1) and referred to in proviso to clause (vii) of section 36(1) and section 36(2)(v) applies to all types of advances, whether rural or other advances. It has also been interpreted that there are separate accounts in respect ... Explanation in clause (vii) of section 36(1) stating that for the purposes of the proviso to section 36(1)(vii) and section 36(2)(v), only one account as referred to therein is made in respect of provision for bad and doubtful debts under section 36(1)(viia

DCIT 3(2), Mumbai vs. Kotak Mahindra Bank Ltd, Mumbai

In the result, the appeal of the revenue is dismissed and the appeal of the assessee is allowed for statistical purposes

ITA 4857/MUM/2009[2007-08]Status: DisposedITAT Mumbai29 Mar 2022AY 2007-08

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopaldy. Commissioner Of Vs. M/S Kotak Mahindra Income-Tax, 3(2) Bank Ltd. 36-38A, Room No. 608, 6Th Floor, Nariman Point, Ayakar Bhavan, Mumbai – 400021 Mumbai – 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack4409J Respondent .. Appellant M/S Kotak Mahindra Vs. Dy. Commissioner Of Bank Ltd. 36-38A, Income-Tax-3(2) 227 Nariman Point, Aayakar Bhavan, Mumbai – 400021 Mumbai – 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack4409J Appellant .. Respondent

For Appellant: Shri F.V. IraniFor Respondent: Shri Jasbir Chouhan
Section 143(3)Section 14ASection 2Section 3

1 ITA Nos. 4857 & 4971/Mum/2009 A.Ys 2007-08 DCIT-3(2) Vs. M/s Kotak Mahindra Bank Ltd. IN THE INCOME

DCIT 2(2), Mumbai vs. State Bank of India, Mumbai

ITA 4951/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

36(1)(vii) of the Act inserted w.e.f 01.04.2014 which states that the proviso to section 36(1)(vii) of the Act and section 36(2)(v) of the Act relates to all types of advances i.e. rural and non-rural advances, is clarificatory in nature. Accordingly ... credit balance in the provision for bad and doubtful debts accounts made under section 36(1)(viia) of the Act. Further, as per section 36(2)(v) of the Act, where a debt made by the assessee to which section36(1)(viia) of the Act applies, no deduction shall

State Bank of India, Mumbai vs. DCIT Cir 2(2), Mumbai

ITA 3685/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

36(1)(vii) of the Act inserted w.e.f 01.04.2014 which states that the proviso to section 36(1)(vii) of the Act and section 36(2)(v) of the Act relates to all types of advances i.e. rural and non-rural advances, is clarificatory in nature. Accordingly ... credit balance in the provision for bad and doubtful debts accounts made under section 36(1)(viia) of the Act. Further, as per section 36(2)(v) of the Act, where a debt made by the assessee to which section36(1)(viia) of the Act applies, no deduction shall