292 ITR 345 (Delhi); CIT v. IFCI Venture Capital Funds Ltd.

306 ITR 332High Court2008#10529 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Judgments citing 292 ITR 345 (Delhi); CIT v. IFCI Venture Capital Funds Ltd.

RAVI YANTRIKI UDYOG PRIVATE LIMITED,PUNE vs. ITO WARD (5)(4), PUNE

In the result, the appeal of the assessee is allowed

ITA 1588/PUN/2025[2015-16]Status: DisposedITAT Pune29 Oct 2025AY 2015-16
For Appellant: \nDepartment by
Section 133(6)Section 194C

…rther that the judgment of the assessee in\nregard of the debt as a bad debt must be a honest judgment and not a\nconvenient judgment.\nReference was also made to the judgment of the Delhi High Court\nCommissioner of Income-tax vs. Global Capital Ltd., (2008) 306 ITR 332\n(Delhi). The Delhi High Court has taken the view that post the amendment\nthe assessee is not required to establish that the concerned debt has\nactually become bad in the relevant year for the purpose of claiming\ndeduction under this Section and the only requirement for claiming deduction\nis that the assessee has to write off the relevant deb…

YOGENDRA KHANDELWAL,1ST FLOOR SOMANI BUILDING LOHA MANDI vs. ASSISSTANT COMMISSIONER CERCLE 3 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

ITA 202/JPR/2023[2011-12]Status: HeardITAT Jaipur14 Jun 2023AY 2011-12

Bench: The Date Of Hearing.”

For Appellant: Sh. P. C. Jain (FCA)For Respondent: Sh. A. S. Nehara(Addl. CIT)
Section 143(3)

…ments and obligations. Further, that the judgment of the assessee in regard of the debt as a bad debt must be a honest judgment and not a convenient judgment. Reference was also made to the judgment of the Delhi High Court in CIT v. Global Capital Ltd. [2008] 306 ITR 332. The Delhi High Court has taken the view that post the amendment the assessee is not required to establish that the concerned debt has actually become bad in the relevant year for the purpose of claiming deduction under this section and the only requirement for claiming deduction is that the assessee has to write off the relevant debt in his book…

M/S. RATNA COMMERCIAL ENTERPRISES PVT. LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

ITA 3796/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Nov 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri J.K. Mishra, CIT, DR
Section 115JSection 138

…ebt in the first part of the sub-section (2). The Hon'ble High Court accordingly reversed the order of the Tribunal and allowed the appeal of the assessee. 13.3 Referring to the decision of the Hon'ble Delhi High Court in the case CIT vs. Global Capital Ltd., 306 ITR 332, he submitted that the Hon'ble High Court in the said decision has held that proof that debt has become bad is not necessary and the debt must be written off in accounts in view of amendment of section 36(1)(vii) of the IT Act. So far as the decision relied on by the ld. A.O. and ld. DR in the case of Datamatic Financial Services Ltd. (supra) is…

DCIT, NEW DELHI vs. M/S. RATNA COMMERCIAL ENTERPRISES PVT. LTD., NEW DELHI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

ITA 4574/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Nov 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri J.K. Mishra, CIT, DR
Section 115JSection 138

…ebt in the first part of the sub-section (2). The Hon'ble High Court accordingly reversed the order of the Tribunal and allowed the appeal of the assessee. 13.3 Referring to the decision of the Hon'ble Delhi High Court in the case CIT vs. Global Capital Ltd., 306 ITR 332, he submitted that the Hon'ble High Court in the said decision has held that proof that debt has become bad is not necessary and the debt must be written off in accounts in view of amendment of section 36(1)(vii) of the IT Act. So far as the decision relied on by the ld. A.O. and ld. DR in the case of Datamatic Financial Services Ltd. (supra) is…

YOGENDRA KHANDELWAL,JAIPUR vs. JCIT, JAIPUR

In the result, the appeal of the assessee in ITA No

ITA 735/JPR/2016[2011-12]Status: DisposedITAT Jaipur25 Sept 2018AY 2011-12
For Appellant: Shri P. C. Jain (Adv.)For Respondent: Shri J. C. Kulhari (JCIT)
Section 201Section 40

…ents and obligations. Further, that the judgment of the assessee in regard of the debt as a bad debt must be a honest judgment and not a convenient judgment. Reference was also made to the judgment of the Delhi High Court in CIT v. Global Capital Ltd. [2008] 306 ITR 332. The Delhi High Court has taken the view that post the amendment the assessee is not required to establish that the concerned debt has actually become bad in the relevant year for the purpose of claiming deduction under this section and the only requirement for claiming deduction is that the assessee has to write off the relevant debt in his book…

ACIT, NEW DELHI vs. SH. ASHOK MITTAL, NEW DELHI

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3743/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2001-02 Shri Ashok Mittal, ITO, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AASPM6882C (Appellant) (Respondent) Assessment Year : 2001-02 ACIT, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. PAN : AASPM6882C (Appellant) (Respondent) C.O. No.257/Del/2009 (In ITA No.2997/Del/2009) Assessment Year : 2001-02 Shri Ashok Mittal, ACIT, Circle- 24(1), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AAS…

SH. ASHOK MITTAL,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3307/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2001-02 Shri Ashok Mittal, ITO, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AASPM6882C (Appellant) (Respondent) Assessment Year : 2001-02 ACIT, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. PAN : AASPM6882C (Appellant) (Respondent) C.O. No.257/Del/2009 (In ITA No.2997/Del/2009) Assessment Year : 2001-02 Shri Ashok Mittal, ACIT, Circle- 24(1), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AAS…

ACIT, NEW DELHI vs. M/S. ASHOK MITTAL, NEW DELHI

In the result, the appeals filed by the assessee are partly allowed, the

ITA 2997/DEL/2009[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2001-02 Shri Ashok Mittal, ITO, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AASPM6882C (Appellant) (Respondent) Assessment Year : 2001-02 ACIT, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. PAN : AASPM6882C (Appellant) (Respondent) C.O. No.257/Del/2009 (In ITA No.2997/Del/2009) Assessment Year : 2001-02 Shri Ashok Mittal, ACIT, Circle- 24(1), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AAS…

ASHOK MITTAL vs. ITO, WARD-24(3),,

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3764/DEL/2004[2001-2002]Status: DisposedITAT Delhi30 Oct 2017AY 2001-2002

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2001-02 Shri Ashok Mittal, ITO, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AASPM6882C (Appellant) (Respondent) Assessment Year : 2001-02 ACIT, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. PAN : AASPM6882C (Appellant) (Respondent) C.O. No.257/Del/2009 (In ITA No.2997/Del/2009) Assessment Year : 2001-02 Shri Ashok Mittal, ACIT, Circle- 24(1), 42, Sainik Farms, Vs. New Delhi. New Delhi. PAN : AAS…

DCIT, NEW DELHI vs. M/S. RAMA VISION LTD., NEW DELHI

The appeal of the Department stands dismissed

ITA 2898/DEL/2014[2002-03]Status: DisposedITAT Delhi25 Oct 2017AY 2002-03

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishiay: 2002-03 Dcit, Vs Rama Vision Ltd., Circle-15(1), Rama House 23, C.R. Building, Najafgarh Road Indl. Area, New Delhi. Shivaji Marg, New Delhi-110015 (Pan: Aaaca0221R) (Appellant) (Respondent) Assessee By: None Department By: Shri Atiq Ahmad, Sr. Dr

For Appellant: NoneFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 143Section 271Section 271(1)(c)

…ogent evidence or material that the amount so claimed as bad debt was actually recovered/received by the company prior to its debit to the profit and loss account. 5.2 The Hon’ble Delhi High Court in the case of CIT versus Global Capital Limited reported in 306 ITR 332 has opined that post amendment the assessee is not required to establish that the concerned debt has actually become bad in the relevant year for the purpose of claiming deduction and the only requirement for claiming deduction is that the assessee has to write off the relevant debt in the books treating it as bad. The Hon’ble Apex Court in the c…

292 ITR 345 (Delhi); CIT v. IFCI Venture Capital Funds Ltd. (306 ITR 332) — Cited in 10 Judgments | BharatTax