THE KARUR VYSYA BANK LTD.,KARUR vs. JCIT, TRICHY

Accordingly, the claim of the assessee that it had to be allowed on actual payment basis was, in our opinion, rightly allowed by the CIT(Appeals)

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George

viia). 10.2. The learned Assessing Officer failed to appreciate the fact that the Rule 6ABA does not prescribe only incremental advances are to be considered for arriving at the Aggregate Average Advances.” 18. In our opinion, irrespective of the fact whether computation made by the Assessing Officer is having an effect on the taxable income of the assessee

THE KARUR VYSYA BANK LTD.,KARUR vs. JCIT, TRICHY

Accordingly, the claim of the assessee that it had to be allowed on actual payment basis was, in our opinion, rightly allowed by the CIT(Appeals)