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2022 (11) TMI 720 - ITAT MUMBAIDeduction u/s 36(1)(viia) r.w.r. 6ABA - computation of aggregate monthly average advance made by the rural branch of scheduled Bank - outstanding advances including opening balances upon which the assessee bank has already claimed such deduction in earlier years or the same has to be allowed in respect of incremental advances made during the year - HELD THAT:- Respectfully following the aforesaid decisions of M/S. CITY UNION BANK LTD. [2022 (4) TMI 113 - MADRAS HIGH COURT] and UTTARBANGA KSHETRIYA GRAMIN BANK [2018 (5) TMI 903 - CALCUTTA HIGH COURT] we decide the question referred for our adjudication in favour of the assessee and held that the deduction under section 36(1)(viia) r/w Rule 6 ABA is to be allowed on the total outstanding advances at the end of each month considering the opening balance. - Decided against revenue.
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