Travancore Tea Estates Co. Ltd. v. CIT

197 ITR 528High Court1992#7460 most cited
15

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2026.

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Judgments citing Travancore Tea Estates Co. Ltd. v. CIT

ASST CIT 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…or example, if there is a ray of hope to recover the debt, however dim it may be and so long as the debt is in the process of realization, it cannot be said that it has become irrecoverable (Travancore Tea Estate Co. Ltd. v. Commissioner of Income-tax [1992], 197 ITR 528 (Ker.). The appeal to the Hon’ble Supreme Court was dismissed. (Travancore Tea Estate Co. Ltd . v. Commissioner of Income-tax [1998], 233 ITR 203 (SC)). The Hon’ble Supreme Court observed that whether a debt has become bad or the point of time when it became bad are pure questions of fact. In Commissioner of Income-tax v. Coates of India Ltd. [19…

STATE BANK OF INDIA,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…or example, if there is a ray of hope to recover the debt, however dim it may be and so long as the debt is in the process of realization, it cannot be said that it has become irrecoverable (Travancore Tea Estate Co. Ltd. v. Commissioner of Income-tax [1992], 197 ITR 528 (Ker.). The appeal to the Hon’ble Supreme Court was dismissed. (Travancore Tea Estate Co. Ltd . v. Commissioner of Income-tax [1998], 233 ITR 203 (SC)). The Hon’ble Supreme Court observed that whether a debt has become bad or the point of time when it became bad are pure questions of fact. In Commissioner of Income-tax v. Coates of India Ltd. [19…

M/S. ASIATIC OXYGEN LTD.,,KOLKATA vs. ACIT, CIRCLE - 4(1), , KOLKATA

Appeal is allowed

ITA 2479/KOL/2018[2015-16]Status: DisposedITAT Kolkata31 Dec 2019AY 2015-16

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A No.2479/Kol/2018 ("नधा"रण वष" / Assessment Year: 2015-16) M/S. Asiatic Oxygen Ltd. Vs. Acit, Circle 4(1), Kolkata 8, B.B.D. Bag (East), Dalhousie Square, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca 6748 G (Appellant) .. (Respondent) Appellant By : Shri S.M. Surana, Advocate Respondent By : Shri Dhrubajyoti Roy, Jcit, Sr. Dr सुनवाईक"तार"ख/ Date Of Hearing : 23/12/2019 घोषणाक"तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara, Jm This Assessee’S Appeal For Assessment Year 2015-16 Arises Against The Commissioner Of Income Tax (A) - 2, Kolkata Dated 16.11.2018 Passed In Case No.10418/Cit(A)-2/17-18 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused.

For Appellant: Shri S.M. Surana, AdvocateFor Respondent: Shri Dhrubajyoti Roy, JCIT, Sr. DR
Section 143(3)Section 36(1)Section 36(1)(vii)Section 36(2)

…g judgements: The Delhi High Court in the case of Mohan Meakin Ltd. CIT (2012) 348 ITR 109 has held that the amount of advance in the course of business becoming irrecoverable is deductible as business. In case of Travancore Tea Estates Co. Ltd. vs CIT (1979) 197 ITR 528 (Ker), it has been held that under section 28, a bad debt which cannot be written off may be allowed as a trading loss, provided the loss is incurred wholly and exclusively for the purpose of the business of the assessee. In the case of CIT vs Inden Biselers (1989) 47 Taxman 225 (1990) 181 ITR 69 (Mad), it has been held that even though the expen…

BFIL FINANCE LTD,MUMBAI vs. ASST CIT CIR 1(1), MUMBAI

ITA 5729/MUM/2014[2009-10]Status: DisposedITAT Mumbai23 May 2018AY 2009-10
For Appellant: Shri F.V. IraniFor Respondent: Shri Suman Kumar-DR
Section 143(3)Section 254(1)Section 36Section 36(1)(vii)

…med as bad debt,that the disputed amounts were un -realised rental/hire charges for the assets given on lease. He referred to the provisions of section 36(vii) read with section 36 (2) of the Act and relied upon the case of Travancore Tea Estates Company Ltd.(197 ITR 528) and observed that amounts in question were outcome of breach of obligation by the lessee/agents of the assessee, that it had admitted that legal proceedings were initiated for breach of obligations by the contracting parties, that there was some mutual arbitration/settlement, that as a result of such understanding amounts had been waived off by…

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S LINDE INDIA LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 323/KOL/2014[2006-07]Status: DisposedITAT Kolkata03 May 2017AY 2006-07

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2006-07

Section 143(3)Section 35Section 35DSection 37(1)

…rading loss in view of the explanation offered. Similarly, most of the advances to suppliers, employees, security deposits for electricity and telephones, etc. Related to the closed business units. In the case of Travancore Tea Estates Co. Ltd. V. CIT [19792] 197 ITR 528 (Ker), it has been held that under sec. 28, a bad debt which cannot be written off may be allowed as a trading loss, provided the loss is incurred wholly and exclusively for the purpose of the business of the assessee. In the case of CIT v. Inden Biselers [1989] 47 Taxman 225 [1990] 181 ITR 69 (Mad), it has been held that ‘even though the expendi…

MC NALLY SAYAJI ENGINEERING LIMITED,NORTH 24 PARGANAS vs. D.C.I.T CIR - 1,KOLKATA, KOLKATA

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

ITA 927/KOL/2013[2009-10]Status: DisposedITAT Kolkata10 Mar 2017AY 2009-10

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: Smt. Shreya Loyalka, CAFor Respondent: Md. Ghayas Uddin, JCIT, Sr. DR
Section 143(3)Section 14A

…s Daga vs CIT reported in (1958) 34 ITR 10 (SC) (b) Hon’ble Calcutta High Court in the case of CIT vs Baldeoram Beharilal reported in (1975) 99 ITR 108 (Cal) (c ) Hon’ble Kerala High Court in the case of Travancore Tea Estates Co Ltd vs CIT reported in (1992) 197 ITR 528 (Ker) (d) Hon’ble Calcutta High Court in the case of CIT vs Gillanders Arbuthnot & Co Ltd reported in (1982) 138 ITR 763 (Cal) 14.3. In response to this, the ld DR argued that the provisions of section 36(2) of the Act were not complied with by the assessee for claiming deduction in respect of TDS recoverable written off and advance to suppliers…

DCIT, CIRCLE - 1, KOLKATA, KOLKATA vs. M/S. MCNALLY SAYAJI ENGINEERING LIMITED, KOLKATA

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

ITA 1575/KOL/2011[2008-09]Status: DisposedITAT Kolkata10 Mar 2017AY 2008-09

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

For Appellant: Smt. Shreya Loyalka, CAFor Respondent: Md. Ghayas Uddin, JCIT, Sr. DR
Section 143(3)Section 14A

…s Daga vs CIT reported in (1958) 34 ITR 10 (SC) (b) Hon’ble Calcutta High Court in the case of CIT vs Baldeoram Beharilal reported in (1975) 99 ITR 108 (Cal) (c ) Hon’ble Kerala High Court in the case of Travancore Tea Estates Co Ltd vs CIT reported in (1992) 197 ITR 528 (Ker) (d) Hon’ble Calcutta High Court in the case of CIT vs Gillanders Arbuthnot & Co Ltd reported in (1982) 138 ITR 763 (Cal) 14.3. In response to this, the ld DR argued that the provisions of section 36(2) of the Act were not complied with by the assessee for claiming deduction in respect of TDS recoverable written off and advance to suppliers…

INCOME TAX OFFICER-WARD-12(3), KOLKATA, KOLKATA vs. M/S ATTIRE ARTS PVT. LTD. (FORMERLY NISHANT OVERSEAS PVT. LTD.), KOLKATA

In the result, the appeal of revenue is dismissed

ITA 2618/KOL/2013[2006-2007]Status: DisposedITAT Kolkata03 Feb 2017AY 2006-2007
Section 143(2)Section 143(3)

…ore me evidences in the form of bills raised, payment and claims received along with relevant documents. I have carefully considered the submissions made. The principles for allowing bad debts has been discussed in Travancore Tea Estates Co. Ltd V. CIT [1992] 197 ITR 528(Ker), wherein it has been held that the burden of proof that there is debit owing to the assessee that it has been taxed in the earlier years, that the debit arose in the course of business of the assessee and finally, that it had become bade in the year o account, is all on the assessee. The documents furnished by the appellant company and the e…

ROYAL STERLING (INDIA) PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed for statistical purpose

ITA 2475/DEL/2013[2008-09]Status: DisposedITAT Delhi06 Oct 2016AY 2008-09

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2008-09 Vs. Income M/S. Royal Sterling (India) Pvt. Tax Officer, Ward- Ltd., Green Park, New Delhi 15(4), New Delhi Pan : Aaacp7135L (Appellant) (Respondent) Appellant By Sh. Suresh Kr. Gupta, Ca Respondent By Sh. F.R. Meena, Sr.Dr Date Of Hearing 09.08.2016 Date Of Pronouncement 06.10.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 20/03/2013 Of Learned Commissioner Of Income-Tax (Appeals)-Xviii, New Delhi, For Assessment Year 2008-09 Raising Following Grounds: “1. That In The Circumstances & Facts Of The Case The Learned Assessing Officer/Cit(A) Has Erred In Making An Addition Of Rs. 12,00,000/- As Unexplained Cash Credit U/S 68 Of The Income Tax Act 1961. 2. That In The Circumstances & Facts Of The Case The Learned Assessing Officer/Cit (A) Has Erred In Making An Addition On Account Of Disallowing Expenses Of Rs. 36,23,810 /- Incurred Through Credit Card. 3. That In The Circumstances & Facts Of The Case The Learned Assessing Officer/Cit(A) Has Erred In Making An Addition Of Rs.10,000/-As Estimated Profit On Sale Of Shares

Section 143(2)Section 143(3)Section 68Section 69

…Income Tax (Appeals), after considering the submission of the assessee, remand report and rejoinder thereof, upheld the addition relying on the decision of the Hon’ble Kerala High Court in the case of M/s. Travancore Tea Estate Company Limited Vs. CIT (1992) 197 ITR 528 and held that three conditions essentials for an amount to be written off as bad debt must have been satisfied as follows: (a) there should be debt owing to the assessee (b) the debt should arise in the course of business of the assessee and (c) it should become bad in the year of account 5.5 Before us, the learned Authorized Representative of th…

ACIT 6(1), MUMBAI vs. BOOTS PIRAMAL HEALTHCARE LTD, MUMBAI

In the result appeal of the revenue is dismissed

ITA 1224/MUM/2011[2007-08]Status: DisposedITAT Mumbai04 Oct 2016AY 2007-08

Bench: Shri R.C.Sharma & Shri Pawan Singh

Section 143(3)Section 154Section 253Section 254(1)

…reated as a capital expenditure. The assessee has not made separate loss in the profit and loss account. The ld AR of assessee to buttress his submission relied upon the decisions of Hon’ble Kerala High Court in Travancore Tea Estate Company Ltd Vs CIT (1992) 197 ITR 528 (Ker), in Josna Bank Ltd Vs CIT (1974) 97 ITR 72(Kerala) and Madras High Court in CIT Versus Pathinen Grama Arya Vysya Bank (1977) 109 ITR 788 (Madras) 4. We have considered the rival contentions of ld. AR of parties and perused the orders of authorities below. We have also considered the various decisions cited by the Ld AR of the assessee. We h…

M/S. HOLTEC CONSULTING PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result the appeal filed by the assessee stands allowed for statistical purposes

ITA 276/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Aug 2016AY 2007-08

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

For Appellant: Shri Akhilesh Gupta, CAFor Respondent: Shri A. K. Saroha, CIT DR
Section 14Section 143Section 143(1)Section 14ASection 36

….2 The Ld. CIT (A) held that the assessee had not given any evidence that the amount was reflected in the earlier in its P&L account. Relying upon the decision of Hon’ble Kerala High Court in the case of M/s Travancore TS State company Ltd Vs. CIT reported in 197 ITR 528, he upheld the actions of the AO and confirmed the addition. 9.3 Aggrieved by the order of the Ld. CIT (A) the assessee is in appeal before us now. 16 I.T.A.Nos.276, 1057, 2280./Del/2014 C.O.No.16/Del/2015 9.4 The Ld. AR has submitted that the authorities below has not disputed regarding the said amount being offered to tax in the preceding ye…

M/S. LINK LEGAL,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is allowed partly

ITA 6740/DEL/2013[2010-11]Status: DisposedITAT Delhi08 Jul 2016AY 2010-11

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2010-11 M/S. Link Legal, 207, Lawyers Vs. Deputy Commissioner Of Income Chamber, Delhi High Court, New Tax, Circle-37(1), New Delhi Delhi. Gir/Pan : Aabfl6757A (Appellant) (Respondent)

Section 143(3)Section 28Section 36Section 36(1)(vii)

…ction is to be allowed of the amount of any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year. The Hon’ble Kerala High Court in the case of the M/s Travancore Tea Estate Co. Ltd. v. CIT (1992) 197 ITR 528 has held that the burden of proof that there is a debt owing to the assessee that the debt arose in the course of the business of the assessee and finally that had become bad in the year of account is all on the assessee. Thus the Hon’ble Court has held that there are three conditions essential for an amount to be written as bad debt. (a) there s…

SANJAY JAIN,NEW DELHI vs. ACIT, NEW DELHI

The appeal is partly allowed

ITA 146/DEL/2014[2010-11]Status: DisposedITAT Delhi15 Jun 2016AY 2010-11

Bench: Shri I.C. Sudhir & Shri O.P. Kant Assessment Year: 2010-11 Sanjay Jain, Vs. Acit, Chamber No. 488, Circle 37(1), Delhi High Court Block-Ii. New Delhi. Sher Shah Road, New Delhi. (Pan: Aagpj8607A) (Appellant) (Respondent) Assessee By: Shri Ra Bansal & Smt. Prem Lata Bansal, Adv. Department By : Smt. Anima Barnwal, Dr Date Of Hearing : 21.03.2016 Date Of Pronouncement: 15 :06.2016 Order Per I.C. Sudhir:The Assessee Has Questioned First Appellate Order On The Following Grounds: 1. That The Ld. Cit(A) Has Erred In Law & On Facts In Confirming The Addition Of Rs.16,70,574/- Made By The Assessing Officer To The Long Term Capital Gain Declared By The Assessee At Rs.1,47,823/-. Since The Addition Made By The Assessing Officer Is Contrary To Law & Therefore, Liable To Be Set Aside. 2. That The Ld. Cit(A) Has Erred In Law & On Facts In Ignoring The Cost Of Improvement While Calculating Long Term Capital Gain Earned By The Assessee On Transfer Of Property.

For Appellant: Shri RA Bansal & Smt. Prem LataFor Respondent: Smt. Anima Barnwal, DR
Section 28Section 37Section 40A(3)Section 48Section 54

…the claim of the assessee as bad debts on the basis that reversal of professional income pertains to prior period. The Learned CIT(Appeals) has cited the decision of 22 Hon'ble Kerala High Court in the case of Travanecore Tea Estates Co. Ltd. vs. CIT (1992) – 197 ITR 528 to hold that burden of proof that there is a debt owing to assessee that the debt arose in the course of business of the assessee and finally that had become bad in the year of accounts is all on the assessee and has upheld the action of the Assessing Officer on the basis that all these conditions are not satisfied in the case of the assessee. As…

CIT vs. VANORD ACZ INDIA PVT LTD

Appeal is dismissed on this ground

ITA/974/2011HC Delhi27 Sept 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 11(6)Section 263Section 36

…arbitration and, therefore, as there was ray of hope for recovery of the amount and in these circumstances ihe ciebt.coul.d not be treated as bad debt. The Commissioner referred to the judgment of Kerala High Court in Travan'core Teia gsfage Co, Ltd. Vs. CIT, 197 ITR 528 in support of his aforesaid view and the said judgment was approved by the Supreme Ccirurt in the case of Travancore Tea Estate Ltd, Vs. CIT,233 ITR 203. 3. The. assessee preferred appeal thereagainst which has been allowed by the Tribunal vide impugned order dated 26th March, 2010. The Tribunal has, inter alia observed that the Assessing Crific…

CIT vs. VANORD ACZ INDIA PVT LTD

Appeal is dismissed on this ground

ITA - 974 / 2011HC Delhi27 Sept 2011
Section 11(6)Section 263Section 36

…arbitration and, therefore, as there was ray of hope for recovery of the amount and in these circumstances ihe ciebt.coul.d not be treated as bad debt. The Commissioner referred to the judgment of Kerala High Court in Travan'core Teia gsfage Co, Ltd. Vs. CIT, 197 ITR 528 in support of his aforesaid view and the said judgment was approved by the Supreme Ccirurt in the case of Travancore Tea Estate Ltd, Vs. CIT,233 ITR 203. 3. The. assessee preferred appeal thereagainst which has been allowed by the Tribunal vide impugned order dated 26th March, 2010. The Tribunal has, inter alia observed that the Assessing Crific…