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“Section 35(1)(viia)”

Section References (mined)Section 35Section 35(1)(viia)2 judgments

The decision most relied on for Section 35(1)(viia) is Canara Bank v. JCIT (60 ITR (Trib) 1), cited in 47 judgments on BharatTax.

Leading authorities on Section 35(1)(viia)

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.

Vora Financial Services (P) Ltd. v. ACIT
96 Taxmann.com 88 · 2018 · ITAT
10
citing judgments

Shares bought back by a company are not considered the property of the assessee for the purpose of Section 56(2)(viia), as a company cannot hold its own shares as property.

Judgments citing Section 35(1)(viia)

Bank of Maharashra, Pune vs. The Pr. Commissioner of Income Tax, Pune

In the result, the appeal filed by the assessee is allowed

ITA 682/PUN/2024[2018-19]Status: DisposedITAT Pune30 Dec 2024AY 2018-19

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2018-19

For Appellant: Shri Ananthan and Mrs. Lalitha RameswaranFor Respondent: Shri Amol Khairnar, CIT-DR
Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 154Section 36(1)(viia)Section 40A(7)

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND MS ASTHA

Union Bank of India, Mumbai vs. DCIT, Cir - (Ltu)-2, Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1439/MUM/2023[2013-14]Status: DisposedITAT Mumbai13 Mar 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 36Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(vila)

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, HON'BLE JUDICIAL MEMBER AND