Supreme Court · 2012 INSC 95 · Decided 17 February 2012
Catholic Syrian Bank LTD. v. Commissioner of Income Tax, Thrissur
- Court
- Supreme Court of India
- Citation
- 2012 INSC 95 · [2012] 4 S.C.R. 739
- Case number
- CIVIL APPEAL No. 1143/2011
- Decided
- 17 February 2012
- Bench
- S.H. KAPADIA, A.K. PATNAIK, SWATANTER KUMAR (3-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 36
Headnote
Income Tax Act, 1961: ss. 36(1 )(vii) and 36(1 )(viia) read with s. 36(2) - A B 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 and operate in their respective fields - Scheduled commercial banks would get the D 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
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