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“Section 38(1)(vii)”

Section References (mined)Section 38Section 38(1)(vii)3 judgments

The decision most relied on for Section 38(1)(vii) is Canara Bank v. JCIT (60 ITR (Trib) 1), cited in 47 judgments on BharatTax.

Leading authorities on Section 38(1)(vii)

Canara Bank v. JCIT
60 ITR (Trib) 1 · 2017 · ITAT
47
citing judgments

For banks, the computation of bad debt allowance under sections 36(1)(vii) or 36(1)(viia) must be restricted to only incremental advances, rejecting broader interpretations by tax authorities.

Canara Bank v. Jt. CIT
99 Taxmann.com 357 · 2018 · Reported
15
citing judgments

In identical circumstances, the provision made by an assessee for bad and doubtful debts is accepted if a co-ordinate bench of the Tribunal has accepted a similar provision in the assessee's own case, and this method has been approved by a High Court.

Idea Cellular Ltd. v. ACIT
47 Taxmann.com 341 · 2014 · ITAT
15
citing judgments

Advances given for business purposes, even if not returned, are allowable as expenditure under Section 37 of the Income Tax Act.

CIT, LTU v. Canara Bank
147 Taxmann.com 171 · 2023 · High Court
12
citing judgments

Section 36(1)(viia) of the Income Tax Act, 1961 allows deduction for provisions made by banks for bad and doubtful debts in rural branches based on aggregate average advances made by such branches.

Judgments citing Section 38(1)(vii)

Canara Bank, Bengaluru vs. The Deputy Commissioner of Income Tax, Circle 2(1)(1), Bangalore, Bengaluru

ITA 210/BANG/2024[2017-18]Status: DisposedITAT Bangalore17 Jan 2025AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Respondent: Sri Abrarana &Anantham, A.Rs
Section 115JSection 14ASection 250Section 38(1)(vii)

ITA Nos.1154/Bang/2023 & ITA 210, 222 & 297/Bang/2024 M/s. Canara Bank., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL "C" BENCH: BANGALORE BEFORE

Canara Bank, Bengaluru vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore, Bengaluru

ITA 1154/BANG/2023[2018-19]Status: DisposedITAT Bangalore17 Jan 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Abarana &Anantham, A.RsFor Respondent: Ms. Neera Malhotra, D.R
Section 115JSection 14ASection 250Section 38(1)

ITA Nos.1154/Bang/2023 & ITA 210, 222 & 297/Bang/2024 M/s. Canara Bank., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL "C"BENCH: BANGALORE BEFORE

Rishabh Birla, New Delhi vs. JCIT, Range-24, New Delhi

In the result, appeal of the assessee is partly allowed for statistical

ITA 1150/DEL/2018[2011-12]Status: DisposedITAT Delhi18 Sept 2023AY 2011-12

Bench: Shri C.M. Garg & Shri Girish Agrawalassessment Year: 2011-12

For Appellant: Shri Sandeep Sapra, AdvFor Respondent: Ms. Sunita Verma, CIT- DR
Section 143(3)Section 36(1)(iii)

this amount had been claimed under the head “rebate and discount” this, in fact, is in the nature of bad debts allowable under Section 38(1)(vii). He referred to the financial statement to point out that assessee had earned income from 5 Rishabh Birla, New Delhi