Supreme Court of India
Catholic Syrian Bank Ltd. v. Commissioner of Income Tax, Thrissur
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the provisions of Sections 36(1 )(vii) and 36(1 )(viia) of the Act are distinct and independent items of deduction and operate in their respective fields.
Judgment, page 39
From the headnote
Income Tax Act, 1961: ss. 36(1 )(vii) and 36(1 )(viia) read with s. 36(2) - c Interpretation of - Scope and ambit of the proviso to clause (vii) of sub-section (1) of s.36 - Discussed - Held: The provisions of s.36(1)(vii) and s.36(1)(viia) are distinct and independent items of deduction and operate in their respective fields - Scheduled commercial banks would get the full benefit of the write off of the irrecoverable debt(s) under s.36{1)(vii) in addition to the benefit of deduction for the provision made for bad and doubtful debt(s) under s.36(1)(viia). s. 119 - Circulars issued by Central
Authorities it was built on
Where later benches applied it
- 2022 Pr. Commissioner of Income Tax 6 v. Khyati Realtors Pvt. Ltd.
- 2021 The Employees State Insurance Corporation v. M/s Texmo Industries
Of those, 1 relied on · 1 mentioned
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