#section 36(1)(vii)
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135 articlesIncome Tax
Income Tax
Delay in filing cross objection without plausible explanation cannot be condoned
Income Tax
Income Tax
ITAT Allows Deduction for NPS Bad Debts Declared Pre-01.04.2006 by Co-op Bank
Income Tax
Income Tax
Deeming fiction of section 50C doesn’t apply in case of purchaser
Income Tax
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Deduction towards bad debts written off available as part of sales amount not received
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Income Tax
Disallowance u/s 36(1)(iii) unsustainable as advance given during normal course of business
Income Tax
Income Tax
Proviso to section 36(1)(vii) cannot be applied for disallowing deduction claimed on bad debts relating to non-rural advances
Income Tax
Income Tax
Bad debts relating to non-rural branches are allowable u/s 36(1)(vii)
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Income Tax
Benefit of deduction of 7.5% of total income available to co-operative banks u/s. 36(1)(viia)
Income Tax
Income Tax
Reopening based on assessment record without tangible material is unsustainable
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Addition based on third person statement without giving any opportunity to cross examine is untenable
Income Tax
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Interest on borrowed funds allowable u/s 36(1)(iii) as funds used wholly and exclusively for business
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Interest paid on borrowing for carrying out business of investing in shares is allowable expenditure
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Income Tax
Assessee not required to establish that debt has become irrecoverable for writing off bad debts
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Income Tax
