Dismissing the appeal of the revenue the Court held that ; for purpose of S.36(1)(viia), aggregate average advance made by the rural branches of scheduled bank would be computed by taking amount of advances made by each rural branch as outstanding at the end of the last day of each month comprised in the previous year which had to be aggregated separately .(AY.2009-10)
PCIT v. Uttarbanga Kshetriya Gramin Bank (2018)408 ITR 393/ 256 Taxman 72 (Cal)(HC)
S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank -Aggregate average advance made by rural branches of scheduled bank would be computed by taking amount of advances made by each rural branch as outstanding at end of last day of each month comprised in previous year which had to be aggregated separately [ R.6ABA ]