ACIT, HUBLI vs. KARNATAKA VIKAS GRAMEEN BANK, DHARWAD
In the result, the appeal by the assessee is treated as partly allowed for statistical purpose
ITA 673/BANG/2014[2009-10]Status: DisposedITAT Bangalore25 Apr 2018AY 2009-10
Bench: Shri N.V Vasudevan & Shri Jason P Boaz
For Appellant: Shri A Shankar, AdvocateFor Respondent: Shri C.H Sundar Rao, CIT
Section 143(3)Section 36(1)(viia)
capital and of the general reserves of the specified entity, no allowance under this clause shall be made in respect of such excess.
Explanation.—In this clause,—
(a) “specified entity” means,—
(i) a financial corporation specified in section 4A of the Companies
Act, 1956 (1 of 1956);
(ii) a financial corporation which is a public sector company;
(iii) a banking