THE MEHSANA URBAN CO. OPERATIVE BANK LTD.,MEHSANA vs. THE ACIT, MEHSANA CIRCLE , MEHSANA

In the result, the appeal of the assessee in ITANo

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

36(1)(viia) which was not done. It is evident from the above facts that the assessee had not truly and fully disclosed material facts necessary for its assessment for the year under consideration thereby necessitating reopening u/s.147 of the Act.” 11. He stated that what the AO has considered to be material fact was not material fact, but only

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA, RACE COURSE CIRCLE, VADODARA vs. THE BHARUCH DIST. CENTRAL CO-OP BANK LIMITED, BHARUCH

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

36(1)(viia) of the Income Tax Act for bad and doubtful debts. In response to inquiries about this deduction, the assessee submitted that as a co-operative bank, it qualified for specific deductions under the mentioned section, which permits deductions based on a percentage of total income and rural advances. The calculations showed that while 7.5% of gross total