Aditya Birla Power Co.Ltd, Mumbai vs. Asst CIT 8(1), Mumbai
ITA 1115/MUM/2012[2007-08]Status: DisposedITAT Mumbai07 Sept 2018AY 2007-08
Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.1115/Mum/2012 (िनधा"रणवष" / Assessment Year:2007-08) Aditya Birla Power Company Limited Assistant Commissioner Of C-1, Aditya Birla Centre Income Tax -8(1) बनाम/ Room No.204, 2Nd Floor S.K. Ahire Marg, Worli Vs. Mumbai-400 030 Aaykar Bhavan Mumbai-400 020 "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aabcb-7067-N (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenue By : Rajesh Kumar Yadav,Ld.Dr Assessee By : Yogesh Thar & Hardik Nirmal, Ld.Ar’S सुनवाई की तारीख/ : 02/07/2018 Date Of Hearing घोषणा की तारीख / : 07/09/2018 Date Of Pronouncement
For Appellant: Yogesh Thar & Hardik Nirmal, Ld.AR’sFor Respondent: Rajesh Kumar Yadav,Ld.DR
Section 143(3)Section 28Section 36Section 36(2)Section 37(1)
…pra. 3.3.5. Without prejudice to the forgoing it is observed that debt denotes not only the obligation of the debtor to pay but also the right of creditors to receive and enforce payment as observed by the High Court of Punjab in CIT vs. Basumal Jagat Narain (38 ITR 447). But on the bad debts, the Calcutta High Court in Hongkong & Shanghai Banking Corporation vs. CIT (28 ITR 199) has observed that the bad debts will always mean debt of which the chance of recovery is nil or slender. The basic conditions which need to be satisfied for claiming deduction for bad debts are as under: 6 Aditya Birla Power Company Lim…
