CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT v. Morgan Securities and Credits Pvt. ltd.

210 CTR 336High Court2007#10335 most cited

What is CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT v. Morgan Securities and Credits Pvt. ltd. authority for?

A deduction for bad debt is allowed if it is written off as irrecoverable in the assessee's accounts for the previous year, as supported by Section 36(2) and Section 36(1)(vii) of the Income Tax Act and CBDT Circular No. 551.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT vs Brilliant Tutorials Pvt. Ltd. · CIT vs Morgan Securities and Credits Pvt. Ltd. · Section 36(2) · Section 36(1)(vii) · bad debt deduction · written off in accounts · CBDT Circular 551

Sections most often in play

Section 145(2)Section 14ASection 1961Section 2015Section 36(1)(vii)Section 36(1)(vii) provisoSection 36(1)(viia)Section 36(2)

Judgments citing CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT v. Morgan Securities and Credits Pvt. ltd.

DCIT, New Delhi vs. Carissa Investment Pvt. Ltd., Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1648/DEL/2021[2013-14]Status: DisposedITAT Delhi07 Feb 2024AY 2013-14

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Mayank Patwari, CAFor Respondent: Ms. Sapna Bhatia, CIT-DR
Section 14A

…uch a business income becomes bad, a deduction is necessary to arrive at the true profits of the business. 12. Reliance is being placed on the judgment of Hon’ble jurisdictional High Court in the case of CIT vs. Morgan Securities and Credits Pvt. Ltd. [2007] 210 CTR 336 (Del.) wherein it was held as under: “A conjoint reading of Section 36(2) and Section 36(i)(vii) makes it clear that the assessed would be entitled to a deduction of the 10 Carissa Investment Pvt. Ltd. amount of any bad debt which has been written off as irrecoverable in its Accounts for the previous year. Any lingering doubt would vanish on a c…

Asst CIT 1 (3)(2), Mumbai vs. M/S Janakalyn Sahakari Bank Ltd., Mumbai

In the result these appeals by the revenue are allowed for statistical purposes

ITA 6840/MUM/2019[2009-10]Status: DisposedITAT Mumbai06 Jan 2022AY 2009-10

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Section 143(2)Section 143(3)Section 263Section 36Section 36(1)(vii)Section 36(1)(yii)

…n further clarified by CBDT Circular no. 551 dated 23/01/1990. Our view find support firm the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and credits 4 M/s. Janakalyan Sahakari Bank Limited Pvt. Ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog.(313 ITR 128)(Bom.), CIT vs. Star chemicals(Bom.) Pvt. Ltd. 220 CTR 319 (BOM.), CIT vs. Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s. Excel Fashion Pvt. Ltd. (201 taxation 216)(Del.), CIT vs Auto Meters 292 ITR 345 (Dei.). So, far as, the reliance upon the decision in Kashmir trading Company…

DCIT Cen Cir 3(3) Cen RG 3, Mumbai vs. Sharekhan Ltd, Mumbai

ITA 1187/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 Jul 2018AY 2012-13

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 14ASection 36(1)(iii)

…accounts of the assessee, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading…

DCIT Cen Cir 3(3) Cen RG 3, Mumbai vs. Sharekhan Ltd, Mumbai

ITA 1188/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 Jul 2018AY 2013-14

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 14ASection 36(1)(iii)

…accounts of the assessee, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading…

Sharekhan Ltd, Mumbai vs. DCIT CC 3(3), Mumbai

ITA 469/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 Jul 2018AY 2013-14

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 14ASection 36(1)(iii)

…accounts of the assessee, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading…

Sharekhan Ltd, Mumbai vs. ACIT CC 3(3), Mumbai

ITA 468/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 Jul 2018AY 2012-13

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 14ASection 36(1)(iii)

…accounts of the assessee, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading…

M.K. Creations, Mumbai vs. ITO WD 14(1)(3), Mumbai

The appeal of the assessee is allowed

ITA 3885/MUM/2014[2010-11]Status: DisposedITAT Mumbai07 Apr 2017AY 2010-11

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Years: 2010-11 M/S M.K. Creations, Income Tax Officer C/O- Shankarlal Jain & Ward-14(1)(3), बनाम/ Associates, Earnest House, Vs. 12, Engineer Building, Nariman Point, 265, Princess Street, Mumbai-400021 Mumbai-400002 ("नधा"रती/Assessee) (राज"व /Revenue) Pa No.:-Aaafm2004J "नधा"रती क" ओर से / Assessee By Shri Shankarlal Jain Shri Suman Kumar-Dr राज"व क" ओर से / Revenue By 06/04/2017 सुनवाई क" तार"ख / Date Of Hearing : 07/04/2017 आदेश क" तार"ख /Date Of Order:

Section 14Section 143(3)Section 50Section 72

…see, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the 12 M/s M. K. Creations ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading Compa…

DCIT (OSD) RG 8(1), Mumbai vs. Control Print (India) Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 2005/MUM/2014[2006-07]Status: DisposedITAT Mumbai17 May 2016AY 2006-07

Bench: Shri Joginder Singh & Shri Rajendraassessment Year: 2006-07 Dcit(Osd), Range-8(1), M/S Control Print (India) Ltd. Room No.260A, 2Nd Floor, C-106, Hind Saurashtra बनाम/ Aayakar Bhavan, Industrial Estate, M.V. Road, Vs. M.K. Road, Marol Naka, Andheri (East), Mumbai-400020 Mumbai-400059 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacc5378C

Section 143(1)Section 143(2)Section 36(1)(vii)

…accounts of the assessee, which has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). So far as, the reliance upon the decision in Kashmir Trading…

Crisil Risk and Infrstructure Solutions Ltd, Mumbai vs. Asst CIT 10(3), Mumbai

The appeal of the Revenue is dismissed

ITA 6338/MUM/2013[2008-09]Status: DisposedITAT Mumbai06 Nov 2015AY 2008-09

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year- 2008-09 Dcit-10(3), M/S Crisil Risk & Room No.451, 4Th Floor, Infrastructure Solution Ltd. बनाम/ Aayakar Bhavan, Central Avenue, Vs. Maharshi Karve Road, Hiranandani Business Park, Mumbai-400020 Powai, Mumbai-400076 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcc4655M Assessment Year- 2008-09 M/S Crisil Risk & Dcit-10(3), Infrastructure Solution Ltd. Room No.451, 4Th Floor, बनाम/ Central Avenue, Aayakar Bhavan, Vs. Hiranandani Business Maharshi Karve Road, Park, Powai, Mumbai-400020 Mumbai-400076 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcc4655M

Section 143(3)Section 36(1)(vii)

…oks of accounts of the assessee. It has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). In view of these facts and the judicial pronouncements discussed h…

DCIT 10(3), Mumbai vs. Crisil Risk & Infrastructure Soluiton Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 6207/MUM/2013[2008-09]Status: DisposedITAT Mumbai06 Nov 2015AY 2008-09

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year- 2008-09 Dcit-10(3), M/S Crisil Risk & Room No.451, 4Th Floor, Infrastructure Solution Ltd. बनाम/ Aayakar Bhavan, Central Avenue, Vs. Maharshi Karve Road, Hiranandani Business Park, Mumbai-400020 Powai, Mumbai-400076 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcc4655M Assessment Year- 2008-09 M/S Crisil Risk & Dcit-10(3), Infrastructure Solution Ltd. Room No.451, 4Th Floor, बनाम/ Central Avenue, Aayakar Bhavan, Vs. Hiranandani Business Maharshi Karve Road, Park, Powai, Mumbai-400020 Mumbai-400076 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcc4655M

Section 143(3)Section 36(1)(vii)

…oks of accounts of the assessee. It has been further clarified by CBDT Circular No.551 dated 23/01/1990. Our view find support from the ratio laid down in CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT vs Morgan Securities and Credits Pvt. ltd. (210 CTR 336)(Del.), DCIT vs Oman International Bank Saog. (313 ITR 128)(Bom.), CIT vs Star Chemicals (Bom.) Pvt. Ltd. 220 CTR 319 (Bom.), CIT vs Global Capital Ltd. 201 taxation 210 (Del.), CIT vs M/s Excel Fashion Pvt. Ltd. (201 taxation 216)(Del), CIT vs Auto meters Ltd. 292 ITR 345 (Del.). In view of these facts and the judicial pronouncements discussed h…

CIT vs Brilliant Tutorials Pvt. Ltd. 292 ITR 399 (Mad.), CIT v. Morgan Securities and Credits Pvt. ltd. (210 CTR 336) — Cited in 10 Judgments | BharatTax