DY. COMMISSIONER OF INCOME TAX CIRCLE-3(3)(1), MUMBAI, MUMBAI vs. SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA, MUMBAI

ITA 871/MUM/2026Status: DisposedITAT Mumbai30 April 2026AY 2023-2411 pages
AI SummaryPartly Allowed

What were the facts?

The Revenue appealed against the deletion of disallowance of bad debts written off by the Assessing Officer. The assessee, a public financial institution, claimed deduction for bad debts written off, which the AO disallowed citing provisions related to bad and doubtful debts.

What did the Tribunal hold?

The Tribunal held that the issue was identical to a question of law pending before the Hon'ble High Court in the assessee's own case for an earlier assessment year. Following the provisions of Section 158A, the Tribunal directed the AO to apply the High Court's decision once it becomes final.

What were the issues?

Whether the disallowance of bad debts written off by the AO was justified, and whether the deduction for lease premium paid was allowable as revenue expenditure.

Which sections of the Income-tax Act were involved?

Section 36(1)(vii),Section 36(1)(viia),Section 158A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI SANDEEP SINGH KARHAILSHRI BIJAYANANDA PRUSETH

For Appellant: Shri Rakesh Joshi
For Respondent: Shri Rajesh Chandekar, CIT-DR

PER BENCH: The cross appeals by

The order continues below.

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