Bad debts relating to non-rural branches are allowable u/s 36(1)(vii)

Bank of Baroda Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that bad debts relating to non-rural branches are allowable under section 36(1)(vii) of the Income Tax Act.

Facts- The assessee, a leading bank in Karnataka has filed its return of income on 28.09.2015 for AY 2015-16 declaring total income at ‘Nil’. The assessee filed revised income by declaring total income at Nil by making additional claim of 200/- crores under Section 36(1)(vii) of the Income Tax Act, 1961 (the Act). The case was selec

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