INTEGRAL URBAN CO-OPERATIVE BANK LTD.,JAIPUR vs. INCOME TAX OFFICER, WARD-2-1, JAIPUR
In the result, the appeal is partly allowed
ITA 1075/JPR/2018[2012-13]Status: DisposedITAT Jaipur13 May 2019AY 2012-13
Bench: Us. In This Appeal, The Assessee Bank Has Taken The Following Grounds Of Appeal:-
For Appellant: Shri Dilip Shivpuri (Adv.)For Respondent: Shri K.C. Meena (ACIT)
Section 145Section 234ASection 36(1)(viia)Section 36(1)(viii)Section 37(1)
section 36(1)(viii) provides for deduction of an amount not exceeding 20% of the profits derived from the eligible business computed under the head “profits and gains from business or profession”. In the instant case, the AO has reduced the provision for standard assets and provision for GSEC while computing the net profits instead of adding the same
