TRF Ltd. v. CIT

Atop Products Private Limited, Delhi vs. Au, Itd, Ministry of Finance, Government of India, Delhi

Accordingly, he issued a show cause notice dated 05.03.2025 show causing the assessee as to why the bad debts of ₹27,86,561/- should not be disallowed in the assessment

Bench: Shri Mahavir Singh & Shri M. Balaganeshatop Products Pvt. Ltd, Vs. Dcit, A-118, Brotherhood Housing Circle-1(1), Society, Plot No. 17, Bodela, New Delhi Phase-Ii, Vikashpuri, New Delhi (Appellant) (Respondent) Pan: Aaaca7693Q

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”: NEW DELHI BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER ATOP Products Pvt. Ltd, Vs. DCIT, A-118, Brotherhood Housing Circle-1(1), Society, Plot No. 17, Bodela, New Delhi Phase-II, Vikashpuri, New Delhi (Appellant) (Respondent) PAN: AAACA7693Q Assessee by : Shri Rajneesh Behari Mathur, CA Revenue by: Ms. Ankush Kalra, Sr. DR Date of Hearing 17/02/2026 Date of pronouncement 17/02/2026 O R D E R PER M. BALAGANESH, AM 1. The appeal in ITA No.5012/Del/2025 for AY 2023-24, arises out of the order of the ld National Faceless Appeal Ce…

Income Tax Officer, Ward-6(1), New Delhi, I.P.. Estate vs. Continental Construction Ltd, Delhi

In the result, appeal of the Revenue is dismissed being devoid of any merit

Bench: Shri Vikas Awasthy& Shri Brajesh Kumar Singhआअसं.3211/धिल्ली/2025(नि.व. 2010-11) Income Tax Officer, Ward-6(1), R. No.380 C, Third Floor, Cr Building, ...... अपीलार्थी/Appellant Ito, Delhi 110002 बिाम Vs. Continental Construction Ltd., 28, Continental House, Nehru Place, Delhi 110019 .....प्रनिवादी/Respondent Pan: Aaacc-2309-R अपीलार्थी द्वारा/ Appellant By: Shri Rajesh Chandra, Cit-Dr प्रधििािीद्वारा/Respondent By: S/Shri M.P Rastogi, Advocate & K. K Pandey सुिवाई की निथर्थ/ Date Of Hearing : 04/02/2026 घोषणा की निथर्थ/ Date Of Pronouncement : 04/02/2026 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Revenue Is Directed Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [In Short ‘The Cit(A)’] Dated 07.03.2025, For Ay 2010-11. 2. The Revenue In Appeal Has Assailed The Order Of Cit(A) In Deleting The Addition Of Rs.57,44,86,933/- On Account Of Writing Off Of Interest On Deferred Dues From Iraq.

…rtained to deferred dues from Iraq. Aggrieved by the assessment order dated 31.12.2017, the assessee preferred an appeal before the CIT(A). The CIT(A), after examining the facts and following the judgment of Hon’ble Supreme Court of India in TRF Ltd. v. CIT, (323 ITR 397), deleted the addition made by Assessing Officer. Hence, the present appeal by the Revenue. 4. Shri Rajesh Chandra, representing the department strongly defended the assessment order and prayed for reversing findings of the CIT(A) in deleting the addition. The ld. DR reiterated observations made by the AO for disallowing writing off of interest…

DCIT, New Delhi vs. Omax Autos Ltd, Gurgaon

Bench: Shri Anubhav Sharma & Shri Amitabh Shukla

…ions of section 36(1)(vii) of the Act, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable; it is enough if the bad debt is written off as irrecoverable in the accounts of the assessee [refer T.R.F. Ltd. vs. CIT: 323 ITR 397 (SC); CBDT Circular No.-12 of 2016 dated 30.05.2016]. 13. The next ground of appeal of the revenue is ground No. 2 with regard to disallowance of trade advances written off.In the assessment order, the assessing officer denied deduction claimed in respect of write-off of trade advances aggregating to Rs.13,47,90,887 on the limited ground that the…

Raj Kumar Sharma, Delhi vs. Income Tax Officer, Delhi

In the result, impugned order is set aside and appeal of the assessee is allowed

Bench: Shri Vikas Awasthyआअसं.7290/धिल्ली/2025 (नि.व. 2014-15) Raj Kumar Sharma, S-27, Chhattar Singh Apartment, Vill Rajpur, Khurd, Hargobind Enclave, New Delhi 110030 ...... अपीलार्थी/Appellant Pan: Apzps-1654-L बिाम Vs. Income Tax Officer, Ward-32(2), ..... प्रनिवादी/Respondent Civic Centre, Delhi 110002 अपीलार्थी द्वारा/Appellant By : Shri A.K Nayr, Chartered Accountant प्रधििािीद्वारा/Respondent By : Shri Manoj Kumar, Sr. Dr सुिवाई की निथर्थ/ Date Of Hearing : 16/12/2025 घोषणा की निथर्थ/ Date Of Pronouncement : 16/12/2025 आदेश/Order Per Vikas Awasthy, Jm:

…reasons for writing off of bad debts but has to merely write off bad debts in the books if the amount is irrecoverable. In support of his submissions, he placed reliance on the decision rendered by Hon’ble Supreme Court of India in the case of TRF Ltd vs. CIT 323 ITR 397. The ld. Counsel submitted that the assessee has furnished complete party wise ledger accounts before the authorities below. The same are available at pages 41 to 63 of the paper book. He further referred to page 40 of the paper book where party wise details of amounts written of i.e. Rs.19,48,187/- is given. The party wise reconciliation of the…

DCIT Central Circle-01, New Delhi vs. Sahara India Commercial Corporation Ltd., Kolkata

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

…at the amounts written off had become unrecoverable. It is no more res integra that after amendment to section 36(1)(vii) of the Act, the assessee need not substantiate that the amounts are irrecoverable. The Hon’ble Apex Court in the case of TRF Ltd. vs CIT, 323 ITR 397 has held that it is sufficient that the assessee has written off the amounts in its books. Thus, in the light of settled legal position, we find no reason to interfere with the findings of the CIT(A) in deleting the disallowance. Hence, ground no. 5 of the Revenue’s appeal is dismissed. Deleting of Disallowance on Account of Proportionate Distri…

ACIT, Central Circle- 1, New Delhi vs. Sahara India Commercial Corporation, Kolkata

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

…at the amounts written off had become unrecoverable. It is no more res integra that after amendment to section 36(1)(vii) of the Act, the assessee need not substantiate that the amounts are irrecoverable. The Hon’ble Apex Court in the case of TRF Ltd. vs CIT, 323 ITR 397 has held that it is sufficient that the assessee has written off the amounts in its books. Thus, in the light of settled legal position, we find no reason to interfere with the findings of the CIT(A) in deleting the disallowance. Hence, ground no. 5 of the Revenue’s appeal is dismissed. Deleting of Disallowance on Account of Proportionate Distri…