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2012 (11) TMI 139 - AT - Income TaxInvoking of Sec 115JB, 263 of the Act - banking company - CIT, under 263 notice, proposed to make addition on account of provision for bad and doubtful debts and provision for depreciation on investments and thus proposed to revise the assessment on that score. - Held that:- Provisions of sec.115JB are not applicable to the assessee being a banking company - invoking of sec.263 is not correct and accordingly quash the action u/s 263 of the Act - In the result, the assessee’s appeal is allowed
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