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2019 (10) TMI 1585 - AT - Income TaxDeduction u/s 36 (1) (viia) - assessee has claimed the deduction incorrectly - AO questioned the quantum of deduction and held that it would be restricted to the amount of reserve created in the books of account - HELD THAT:- We have carefully considered the rival contention and perused the orders of the lower authorities. In the present case the issue squarely covered by the decision of the coordinate bench in case of the assessee for assessment year 2012 – 13 [2018 (10) TMI 359 - ITAT DELHI] AO himself admitted in the assessment order that the assessee had claimed deduction u/s 36(1)(viia) which is 10% of the aggregate rural advances of the bank. The aforesaid claim was allowable to the assessee as per the ratio laid down in Southern Technologies Ltd. [2010 (1) TMI 5 - SUPREME COURT] and Catholic Syrian Bank Ltd. [2012 (2) TMI 262 - SUPREME COURT] - Decided in favour of assessee.
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