Ratna Commercial Enterprises P.Ltd, New Delhi vs. Dcitcirclr-20(1), New Delhi
In the result, the appeal filed by the assessee is partly allowed for statistical purposes
ITA 4970/DEL/2017[2012-13]Status: DisposedITAT Delhi25 Apr 2022AY 2012-13
Bench: Shri R.K. Panda & Shri N.K. Choudhryassessment Year: 2012-13 Ratna Commercial Enterprises P. Vs Dcit, Ltd., Circle-20(1), 4Th Floor, Punjabi Bhawan, New Delhi. 10, Rouse Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri T. Kipgen, Cit, Dr Date Of Hearing : 31.01.2022 Date Of Pronouncement : .04.2022 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 12Th May, 2017 Of The Cit(A)-36, New Delhi, For The Assessment Year 2012-13. 2. Ground Of Appeal No.1 Raised By The Assessee Reads As Under:-
For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. Kipgen, CIT, DR
Section 115JSection 36(1)(vii)Section 37(1)
…decisions, he submitted that the advances made during the course of its business to the vendors for the purpose of business which is not recoverable, should be allowed either as business loss u/s 28 of the IT Act or bad debt u/s 36(1)(vii) of the Act:- 6 i) 46 ITR 649 (SC) CIT vs. Mysore Sugar Co. Ltd.; ii) 345 ITR 1 (Del) CIT vs. New Delhi Hotels Ltd.; & iii) 348 ITR 109 (Del) Mohan Meakin Ltd. vs. CIT 9. He accordingly submitted that since the advances so made by the assessee were in the course of real-estate business, therefore, the addition sustained by the CIT(A) is not in accordance with law and, therefo…
