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2014 (4) TMI 1107 - AT - Income TaxDeduction claimed u/s 36(1)(viia) - amount of Provision made in the books of account for bad and doubtful debts - Held that:- In the immediately preceding assessment year of 2008-09 also the Revenue had denied the claim of the assessee u/s 36(1)(viia) of the Act by restricting it to the extent of the Provision for bad and doubtful debts actually made in the account books. The Tribunal, after considering the rival stands as also the various authorities cited at Bar came to conclude that the deduction sought to be claimed by the assessee u/s 36(1)(viia) of the Act was liable to be restricted to the extent of the Provision for bad and doubtful debts actually made in the account books. - Decided against assessee Addition on account of accrued interest income relating to ‘Non Performing Assets’ - Held that:- As decided in Asst. Commissioner of Income Tax Versus The Omerga Janta Sahakari Bank Ltd. [2014 (12) TMI 355 - ITAT PUNE ] it was legitimate move to infer that interest income thereupon has not “accrued”- thus, there was no infirmity with the decision of the CIT(A) in holding that the interest income relatable on NPA advances did not accrue to the assessee – Decided against revenue. Deduction representing amortization of premium paid on Government Securities - Held that:- CIT(A) made no mistake in allowing the claim of the assessee for deduction representing amortization of premium paid on Government Securities under the HTM category holding that the same was claimed as per the relevant RBI guidelines and even the CBDT has issued instructions to allow the same. – Decided against revenue.
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