CIT v. Tainwala Chemicals and Plastics India Ltd.

215 Taxmann 153High Court2013#5621 most cited

What is CIT v. Tainwala Chemicals and Plastics India Ltd. authority for?

A provision for doubtful debts made in the profit and loss account and reduced from loans and advances in the balance sheet may qualify for deduction as bad debts under section 36(1)(vii) of the Income-tax Act.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Tainwala Chemicals and Plastics India Ltd. · CIT · Tainwala Chemicals · section 36(1)(vii) · bad debts · provision for doubtful debts · deduction · loans and advances · income tax

Also reported as

34 Taxmann.com 159

Sections most often in play

Section 36(1)(vii)Section 115JBSection 143(3)Section 14ASection 194HSection 35(2AB)Section 35(3)Section 40(a)(ia)

Issues it is cited on

section 2(43)principal director general of income-taxsection 54esection 74section 35(1)r&d expenditureopening wdvsection 288weighted deductionsection 36(1)(vii)section 35(2ab)section 70

Judgments citing CIT v. Tainwala Chemicals and Plastics India Ltd.

Elite International P.Ltd, Mumbai vs. ACIT Cir 6(2), Mumbai

Appeal stands dismissed

ITA 3079/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 Jun 2017AY 2009-10

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: Vimal Punmiya, Ld. ARFor Respondent: Arvind Kumar, Ld. DR
Section 143(3)Section 36Section 36(2)

…ITA No.3079/Mum/2014 Elite International Private Limited Assessment Year-2009-10 आयकर अपीलीय अिधकरण “ई” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI "ी श""जीत दे,"ाियक सद" एवं "ी मनोज कुमार अ"वाल, लेखा सद" के सम" । BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./I.T.A. No.3079/Mum/2014 (िनधा"रण वष" / Assessment Year: 2009-10) Elite International Private Ltd Assistant Commissioner of 1/9 Fatima Building Income Tax बनाम/ 66, Dr.Raikar Marg Circle 6(2) Vs. Mahim, Mumbai – 400 020 Mumbai – 400016 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AABCE-3393-G (अपीलाथ" /App…