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2014 (1) TMI 833 - AT - Income TaxDeduction allowed u/s 36(1)(viia) of the Act – Co-operative Bank registered under Co-operative Societies Act - rural branch - Held that:- There is no reason to interfere with the finding of CIT (A) - the AO has not examined the provisions of section 36(1)(viia) completely neither explanation added to it which was considered by CIT (A) – the assessee falls under section 5C of the Banking Regulations Act, 1949 is a non-scheduled bank - assessee is a non-scheduled bank then as per provisions, deduction has to be allowed - The AO himself has allowed 75% of the deduction - he disallowed 10% further deduction which was allowable to the non-scheduled bank and scheduled bank - The assessee operated through rural branch which is a branch of scheduled bank or non-scheduled bank situated in a place which has a population of 10,000 which is not in dispute - The CIT (A) has ascertained the calculation of deduction claimed under section 36(1)(viia) of the advances given by its rural branch in Jamwa Ramgarh – Decided against Revenue.
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