The Siam Commercial Bank Pcl vs Deputy Director Of Income Tax (International Taxation)*
Whether discounting charges relating to future periods can be taxed in the year of discounting under mercantile accounting --- Held No; Whether disallowance under section 14A should be computed as per Rule 8D --- Held No, matter restored to AO for reasonable basis; Whether bad debt deduction under section 36(1)(vii) should be reduced by closing balance of provision --- Held No, deduction should be reduced by opening balance of provision
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