ASIAN PAINTS LIMITED,SANTACRUZ vs. DEPUTY COMMISSIONER OF INCOME TAX, LTU CIRCLE 2, CUFFE PARADE

ITA 2700/MUM/2023Status: DisposedITAT Mumbai26 July 2024AY 2016-1783 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal allowed the assessee's ground regarding the deduction for provision for doubtful debts, both under normal provisions and for book profits. Other grounds were decided based on previous tribunal decisions or were dismissed.

What were the facts?

The assessee, Asian Paints Limited, filed appeals against assessment orders for AYs 2016-17, 2017-18, and 2018-19. The appeals involved various grounds concerning disallowances, deductions, and foreign tax credits.

What were the issues?

The key issues involved the eligibility of weighted deduction for scientific research, disallowance of expenses, and the allowability of provision for doubtful debts for book profit computation.

Which sections of the Income-tax Act were involved?

Section 35(2AB),Section 14A,Section 8D,Section 115JB,Section 36(1)(vii),Section 40(a)(ia),Section 194H,Section 90,Section 91

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(9)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Heard together (6 matters)

ITA No.2700/Mum/2023
ITA No.2697/Mum/2023
ITA No.2696/Mum/2023
ITA No.2936/Mum/2023
ITA No.3063/Mum/2023
ITA No.3083/Mum/2023

Read from the judgment's own cause title. This page is filed under one of them.

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SMT RENU JAUHRI, ACCOUNTANT MEMBER ITA No.2697/Mum/2023 (Assessment Year :2017-18) & M/s. Asian Paints Limited Vs. Dy. Commissioner of Asian Paints House 6A, Shanti Nagar Vakola Pipeline Lane Santacruz (East) S.O. Mumbai-400 055 Maharashtra (Appellant)

Income Tax, LTU Circle 2, World Trade Centre 1 Cuffee Parade Mumbai-400 005 PAN/GIR No.AAACA3622K (Respondent) ITA No.3063/Mum/2023 (Assessment Year :2017-18) & Dy. Commissioner of Vs. M/s. Asian Paints Limited Income Tax, LTU Asian Paints House Circle 2, 6A, Shanti Nagar World Trade Centre 1 Vakola Pipeline Lane Cuffee Parade Santacruz (East)

Mumbai-400 S.O. Mumbai-400 055 005 Maharashtra Maharashtra (Appellant) PAN/GIR No.AAACA3622K (Respondent) M/s. Asian Paints Assessee by Shri Madhur Agrawal & Shri Ronak Doshi Revenue by Shri Ajay Chandra Date of Hearing 21/05/2024 Date of Pronouncement 26/07/2024 आदेश / ORDER

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 35(2AB)

All 842 judgments and leading authorities on Section 35(2AB) →

Recent GST High Court judgments

Search GST case law →