“Section 36(1)(vii)(a)”

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

Tribunal in the case of State Bank of Hyderabad (supra), had set aside the view expressed by the CIT(A) that proviso to section 36(1)(vii) which requires adjustment of bad debts against the provisions allowed u/s 36(1)(viia) would apply to non-rural advances also. The relevant ... double deduction. In our view, both AO as well as ld. CIT(A) have committed fundamental error by mixing up provisions of sections 36(1)(vii) and 36(1)(viia). While 36(1)(vii) speaks of actual write off of bad debts in the books of account, section 36(1

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

Bench: SHRI WASEEM AHMED, ACCOUNTANT MEMBER\nAND\nSHRI KESHAV DUBEY, JUDICIAL MEMBER\nITA No.210/Bang/2024\nAssessmentYear: 2017-18\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560002\nPAN NO: AAACC6106G\nVs.\nDCIT\nCircle-2(1)(1)\nBangalore\nAPPELLANT\nRESPONDENT\nITA No.222/Bang/2024\nAssessmentYear: 2017-18\nDCIT\nCircle-2(1)(1)\nBangalore\nVs.\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560 002\nAPPELLANT\nRESPONDENT\nITA No.1154/Bang/2023\nAssessme

correct in holding\nthat the penalties levied under section 46 of the Banking Regulation Act are allowable\nexpenditure.\nix. Whether deduction under section 36(1)(vii)(a) of the Income Tax Act, 1961 r.w.r 64B.t of\nthe Income Tax Rules, 1962 is to be allowed on the total outstanding advances

M/S SYNDICATE BANK,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, UDUPI

In the result, appeal of the revenue in ITA No

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

36(1)(vii) should not be first adjusted with the provision allowed u/s 36(1)(viia) in view the proviso to Section 36(1)(vii) r.w.s. 36(2)(v) r.w.s. 36(1 3.1 The assessee bank relying on the Hon'ble Supreme Court decision that Section 36(1)(viia ... 36(1)(vii) without adjusting the same against the provision allowed u/s 36(1)(viia). It contended that insertion of explanation 2 to Section 36(1)(vii) has not altered the proposition of law as it existed prior to ITA No.1219/Bang/2019 & ITA No.186/PAN/2019 Canara Bank (Erstwhile Syndicate Bank), Bangalore Page

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KALABURAGI, KALABURAGI vs. THE DISTRICT CO-OPERATIVE CENTRAL BANK LTD BIDAR, BIDAR

In the result, the appeal filed by the Revenue is hereby dismissed

Bench: Shri George George K & Shri Waseem Ahmedassessment Years : 2018-19

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI WASEEM AHMED