ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

viia) of the Act does not have any credit balance as on 01/04/2015, we agree with the submissions of the assessee in claiming the deduction of the entire bad debt written off as an irrecoverable under section 36(1)(vii) of the Act. Accordingly, the impugned addition made by the AO on this issue is deleted. As a result

BANK OF INDIA,MUMBAI vs. THE NATIONAL FACELESS ASSESSMENT CENTRE, MUMBAI

36(1)(viia) of the Act does not have any credit balance as on\n01/04/2015, we agree with the submissions of the assessee in claiming the\ndeduction of the entire bad debt written off as an irrecoverable under section\n36(1)(vii) of the Act. Accordingly, the impugned addition made by the AO on\nthis issue is deleted

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

section 36(1)(viia) as under: Particulars AY 2011-12 (Rs.) 10% of average advances 316,45,05,004 7.5% of total income 68

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

section 36(1)(viia) as under: Particulars AY 2011-12 (Rs.) 10% of average advances 316,45,05,004 7.5% of total income 68

INDUSIND BANK LTD,MUMBAI vs. THE DCIT-2(3)(1), MUMBAI

In the result, the Income Tax Appeal is\ndismissed

viia) of the Act in the preceding previous year of\nRs.159,78,14,026/- and only the balance amount of Rs.19,47,03,938/- was\nclaimed as deduction as bad debts u/s.36(1)(vii) of the Act. In this regard, we\nhave verified the computation of income annexed in page 38 & 39 of the paper\nbook. We have also gone

DCIT-2(3)(1), MUMBAI vs. INDUSIND BANK LTD., MUMBAI

viia) of the Act in the preceding previous year of\nRs.159,78,14,026/- and only the balance amount of Rs.19,47,03,938/- was\nclaimed as deduction as bad debts u/s.36(1)(vii) of the Act. In this regard, we\nhave verified the computation of income annexed in page 38 & 39 of the paper\nbook. We have also gone

DCIT (IT)-2(1)(2), AIR BUILDING, NARIMAN POINT, MUMBAI vs. DBS BANK LIMITED, MUMBAI

68,516 to the\ntaxable income on the ground that the provision for bad and doubtful debt was not\nallowable under section 36(1)(vii) of the Income-tax Act. The appellant claimed that the\n\"Provision for NPA\", however, represented \"loss\" in the value of assets and was,\ntherefore, allowable under section 37(1) of the Income

DBS BANK LTD (DBS BANK LTD., INDIA BRANCHES NOW CONVERTED INTO DBS BANK INDIA LTD),MUMBAI vs. DCIT (INT TXT)-2(1)(2), MUMBAI

In the result, appeal of the assessee in ITA No

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sunil Kumar Singh, Hon’Ble

68,516 to the taxable income on the ground that the provision for bad and doubtful debt was not allowable under section 36(1)(vii) of the Income-tax Act. The appellant claimed that the "Provision for NPA", however, represented "loss" in the value of assets and was, therefore, allowable under section 37(1) of the Income