TRF Ltd. v. CIT

323 ITR 397Supreme Court of India2010#71 most cited

What is TRF Ltd. v. CIT authority for?

For claiming deduction for bad debts under section 36(1)(vii) of the Income Tax Act, it is sufficient for the assessee to write off the debt as irrecoverable in its accounts, and it is not necessary to prove that the debt has actually become irrecoverable.

714

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2010 to 2026.

Also referred to as

TRF Ltd. v. CIT · section 36(1)(vii) · bad debts · deduction · irrecoverable · written off · assessee's accounts · income tax act

Also reported as

190 Taxmann 391230 CTR 14190 Taxmann.com 391

Sections most often in play

Section 143(3)Section 36(1)(vii)Section 147Section 14ASection 36(2)Section 148Section 40(a)(ia)Section 132

Issues it is cited on

section 36(2)section 36(1)(vii)business expediencysection 36(1)section 36commercial expediencyrevenue expendituredisallowance under section 14acapital expendituresection 28section 115jsection 14a

Judgments citing TRF Ltd. v. CIT

Southern Group Industries P Ltd., Chennai vs. ITO, Corp Ward -6(3), Chennai

In the result, the appeal filed by assessee in ITA No

ITA 150/CHNY/2019[2013-14]Status: DisposedITAT Chennai28 Nov 2019AY 2013-14

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy*नधा,रण वष, /Assessment Year: 2013-14 V. M/S.Southern Group Industries Pvt. The Income Tax Officer, Ltd., New No.72, Old No.19, Corporate Ward-6(3), Room No.706, 7Th Floor, Raja Annamalai Building, Marshalls Road, New Block, 121, Egmore, Chennai-6000 M.G.Road, Chennai-600034 [Pan: Aaecs0081Q] (अपीलाथ//Appellant) (01यथ//Respondent)

For Appellant: Mr. Gurubashyam, JCITFor Respondent: 28.11.2019
Section 143(2)Section 143(3)Section 36(1)(vii)Section 36(2)

…closed for more than a decade. It is submitted that assessee is now a manufacturer and trader of zipper and zipper components. The Ld.Counsel for assessee relied upon decision of Hon’ble Supreme Court in the case of T.R.F. Limited v. CIT reported in [2010] 323 ITR 397(SC) and also decision of Hon’ble Madras High Court in the case of CIT v. Crescent Films Private Limited reported in (2001) 248 ITR 670(Mad.) to contend that these bad debts written off by assessee in its books of accounts be allowed as deduction. On being asked by the Bench, Ld.Counsel for assessee fairly submitted that no evidence is placed b…

Redtech Network India Private Limited, Kolkata vs. ACIT, Circle - 2(2), Kolkata

In the result, appeal of the assessee is allowed

ITA 2378/KOL/2017[2013-14]Status: DisposedITAT Kolkata27 Nov 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara) Assessment Year: 2013-14 Redtech Network India Private Limited.......................................................……………….…......Appellant Godrej Waterside 5Th Floor Unit-504 Sector-V Salt Lake City Kolkata – 700 091 [Pan : Aabcb 5398 J] Vs. Asstt. Commissioner Of Income Tax, Circle-2(2), Kolkata……....................………....…....Respondent Appearances By: Shri Ajit Korde, Advocate, Appeared On Behalf Of The Assessee. Dr. P.K. Srihari, Cit Sr. D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : October 14Th, 2019 Date Of Pronouncing The Order : November 27Th, 2019 Order Per J. Sudhakar Reddy, Am :-

Section 143(3)Section 14A

…mployee accounts, who have left are also not receivables. receivables. The balances in employee accounts, who have left are also not receivables. 15.2. The Hon’ble Supreme Court in the case of The Hon’ble Supreme Court in the case of TRF India vs. CIT (2010) 323 ITR 397 TRF India vs. CIT (2010) 323 ITR 397 (SC) has held as follows:- “Section 36(1)(vii) of the Income of the Income-tax Act, 1961 - Bad debts - Assessment years 1990 Assessment years 1990- 91, 1993-94 and 1994-95 95 - Whether after 1-4-1989, it is not necessary for ass 1989, it is not necessary for assessee to establish that debt, in fact, has becom…

M/S. Ratna Commercial Enterprises Pvt. Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

ITA 3796/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Nov 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri J.K. Mishra, CIT, DR
Section 115JSection 138

…ing a debt to be treated as a bad or irrecoverable no sooner it was written off in the books of the assessee concerned." 4.9.8 The claim of the assessee is further supported by the decision of the Honb’le Apex Court in the case of TRF Ltd. v. CIT reported in 323 ITR 397 (SC) wherein it was held that after the amendment of section 36(l)(vii) of the Income Tax Act, 1961, with effect from April 1, 1989, in order to obtain a deduction in relation to bad debts, 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 irrecoverab…

DCIT, New Delhi vs. M/S. Ratna Commercial Enterprises Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

ITA 4574/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Nov 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri J.K. Mishra, CIT, DR
Section 115JSection 138

…ing a debt to be treated as a bad or irrecoverable no sooner it was written off in the books of the assessee concerned." 4.9.8 The claim of the assessee is further supported by the decision of the Honb’le Apex Court in the case of TRF Ltd. v. CIT reported in 323 ITR 397 (SC) wherein it was held that after the amendment of section 36(l)(vii) of the Income Tax Act, 1961, with effect from April 1, 1989, in order to obtain a deduction in relation to bad debts, 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 irrecoverab…

M/S Cifco Finance Ltd., Mumbai vs. Dy CIT (OSD II), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 3992/MUM/2001[1996-97]Status: DisposedITAT Mumbai01 Nov 2019AY 1996-97

Bench: Shri Pawan Singh & Shri Rajesh Kumarm/S Cifco Finance Ltd. Dcit (Osd Ii), Bhupen Chambers, Ground Floor, Central Section, C.G. O. Unit-I, Dalal Street, Fort, Vs. Building Annexc, 101, Mumbai-400001. M.K. Marg, Pan: Aaacc1765F Mumbai-400020. Appellant Respondent Dcit (Osd Ii), M/S Cifco Finance Ltd. Central Section, C.G. O. Bhupen Chambers, Ground Floor, Building Annexc, Vs. Unit-I, Dalal Street, Fort, 101, M.K. Marg, Mumbai-400001. Mumbai-400020 Pan: Aaacc1765F Appellant Respondent M/S Cifco Finance Ltd. Dcit (Osd Ii), Bhupen Chambers, Ground Floor, Central Section, C.G. O. Unit-I, Dalal Street, Fort, Vs. Building Annexc, Mumbai-400001. 101, M.K. Marg, Pan: Aaacc1765F Mumbai-400020. Appellant Respondent Dcit (Osd Ii), M/S Cifco Finance Ltd. Central Section, C.G. O. Bhupen Chambers, Ground Floor, Building Annexc, Vs. Unit-I, Dalal Street, Fort, 101, M.K. Marg, Mumbai-400001. Mumbai-400020 Pan: Aaacc1765F Appellant Respondent Appellant By : Shri Vipul Joshi With Shri Mukul Pandya (Ar) Respondent By : Shri Ashish Pophare (Dr)

For Appellant: Shri Vipul Joshi with Shri Mukul Pandya (AR)For Respondent: Shri Ashish Pophare (DR)
Section 254(1)

…expediency, board of Direct of the assessee decided to write off the said amount. In support of his submission, the ld. AR of the assessee relied upon the DBDT Circular No. 551 dated 23.01.1990 and the decision of Hon’ble Supreme Court in TRF Ltd. vs. CIT (323 ITR 397) and the Circular No. 12 of 2016 accepting the ratio of decision of Hon’ble Supreme Court (supra). In alternative, the ld. AR of the assessee claimed as business loss. 9. On the other hand, the ld. DR for the revenue relied upon the order lower authorities. 10. We have considered the submission of both the parties and perused the material avail…

DCIT Cen Cir 3(3) Cen Circle-.3(3), Mumbai vs. Oricon Enterprises Ltd, Mumbai

In the result, appeal filed by the assessee is partly allowed and the revenue’s appeal is dismissed

ITA 3879/MUM/2018[2014-15]Status: DisposedITAT Mumbai29 Oct 2019AY 2014-15
For Appellant: Shri Sunil Mahata (AR)For Respondent: Shri Abdul Hakeem M. (DR)
Section 143Section 14A

…assessee offered the lease rent for the said two months also. Since, the lessee did not pay the said amount, the assessee decided to write off the said amount bad debt. The assessee relying on the decision of the Hon’ble Supreme Court in the case of TRF Ltd. 323 ITR 397 and CBDT Circular No. 12/2016 dated 30.05.2016 submitted that the action of the authorities below are contrary to the ratio of law laid down by the Hon’ble Supreme Court in the said case. 8. On the other hand, the Ld. DR relying on the findings of the authorities below submitted that the contention of the assessee that lease rent for the month of…

Oricon Enterprises Limited, Mumbai vs. DCIT - CC -3(3), Mumbai

In the result, appeal filed by the assessee is partly allowed and the revenue’s appeal is dismissed

ITA 3641/MUM/2018[2014-15]Status: DisposedITAT Mumbai29 Oct 2019AY 2014-15
For Appellant: Shri Sunil Mahata (AR)For Respondent: Shri Abdul Hakeem M. (DR)
Section 143Section 14A

…assessee offered the lease rent for the said two months also. Since, the lessee did not pay the said amount, the assessee decided to write off the said amount bad debt. The assessee relying on the decision of the Hon’ble Supreme Court in the case of TRF Ltd. 323 ITR 397 and CBDT Circular No. 12/2016 dated 30.05.2016 submitted that the action of the authorities below are contrary to the ratio of law laid down by the Hon’ble Supreme Court in the said case. 8. On the other hand, the Ld. DR relying on the findings of the authorities below submitted that the contention of the assessee that lease rent for the month of…

Tripura State Electricity Corporation Ltd., Agartala vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 64/GTY/2018[2011-12]Status: DisposedITAT Guwahati18 Oct 2019AY 2011-12

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Ltd., Tripura vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 63/GTY/2018[2010-11]Status: DisposedITAT Guwahati18 Oct 2019AY 2010-11

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Ltd., Agartala vs. Income Tax Officer, Ward - Udaipur, Agartala

ITA 243/GTY/2017[2009-10]Status: DisposedITAT Guwahati18 Oct 2019AY 2009-10

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Ltd., Agartala vs. Income Tax Officer, Ward - Udaipur, Agartala

ITA 242/GTY/2017[2008-09]Status: DisposedITAT Guwahati18 Oct 2019AY 2008-09

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Limited, Agartala vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 167/GTY/2016[2012-13]Status: DisposedITAT Guwahati18 Oct 2019AY 2012-13

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Limited, Agartala vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 32/GTY/2015[2009-10]Status: DisposedITAT Guwahati18 Oct 2019AY 2009-10

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Limited, Agartala vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 31/GTY/2015[2008-09]Status: DisposedITAT Guwahati18 Oct 2019AY 2008-09

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Tripura State Electricity Corporation Limited, Agartala vs. Deputy Commissioner of Income Tax, Circle - Agartala, Agartala

ITA 30/GTY/2015[2007-08]Status: DisposedITAT Guwahati18 Oct 2019AY 2007-08

Bench: Sh. S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 154

…to a ‘large number’ of rural consumers to whom electricity was supplied under the Rajiv Gandhi Gramin Vidyut Yojana (RGGVY) Scheme and “other poor consumers”. The appellant referred to the decision of the Hon’ble Supreme Court in T.R.F. Ltd vs CIT reported in 323 ITR 397 in support of the claim. 12.3 The matter has been considered. Firstly, there is no dispute that an opportunity was given by the Assessing Officer to produce the supporting factual details, but it was not availed of. Here, the appellant has prayed that the additional evidence ought to be admitted for reasons mentioned as recorded in para (4.3) of…

Shriraminsight Share Brokers Ltd., Chennai vs. DCIT Corporate Circle 6(1), Chennai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 2975/CHNY/2018[2014-15]Status: DisposedITAT Chennai11 Oct 2019AY 2014-15

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.2975/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 Shriram Insight Share Brokers Ltd., The Deputy Commissioner Of Mookambika Complex, No. 4, Lady Vs. Income Tax, Desika Road, Mylapore, Corporate Circle – 6(1), Chennai 600 004. Chennai. [Pan: Aaaci2727H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Gautham Venketanarayanan, Advocate ""थ" की ओर से/Respondent By : Shri J. Pavitran Kumar, Jcit सुनवाई की तारीख/ Date Of Hearing : 16.09.2019 घोषणा की तारीख /Date Of Pronouncement : 11.10.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-15, Chennai Dated 31.07.2018 Relevant To The Assessment Year 2014-15. The Grounds Raised In The Appeal Of The Assessee Are That The Ld. Cit(A) Has Erred In Confirming The Part Disallowance Made Under Section 14A R.W. Rule 8D, Disallowance Of Depreciation In Respect Of Royalty, Disallowance Of Bad Debt & Part

For Appellant: Shri S. Gautham VenketanarayananFor Respondent: Shri J. Pavitran Kumar, JCIT
Section 115JSection 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" Before Shri Duvvuru RL Reddy, Judicial Member & Shri S. Jayaraman, Accountant Member आयकर अपील सं./I.T.A.No.2975/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 Shriram Insight Share Brokers Ltd., The Deputy Commissioner of Mookambika Complex, No. 4, Lady Vs. Income Tax, Desika Road, Mylapore, Corporate Circle – 6(1), Chennai 600 004. Chennai. [PAN: AAACI2727H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant by : Shri S. Gautham Venketana…

Srinivasa Machine Works, Chennai vs. ITO, Chennai

In the result, the assessee’s appeal for the assessment year

ITA 844/CHNY/2017[2013-14]Status: DisposedITAT Chennai09 Oct 2019AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

For Appellant: Shri T. Banusekar, CAFor Respondent: Shri Clement Ramesh Kumar, JCIT
Section 2(22)(e)Section 80G

…आयकर अपीलीय अिधकरण, ‘सी’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.1969 & 3434/CHNY/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/s. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1st Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. PAN: AAQFS2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/CHNY/2017 (…

Srinivasa Machine Works, Chennai vs. ITO, Chennai

In the result, the assessee’s appeal for the assessment year

ITA 3434/CHNY/2016[2012-13]Status: DisposedITAT Chennai09 Oct 2019AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

For Appellant: Shri T. Banusekar, CAFor Respondent: Shri Clement Ramesh Kumar, JCIT
Section 2(22)(e)Section 80G

…आयकर अपीलीय अिधकरण, ‘सी’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.1969 & 3434/CHNY/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/s. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1st Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. PAN: AAQFS2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/CHNY/2017 (…

Srinivasa Machine Works, Chennai vs. DCIT, Chennai

In the result, the assessee’s appeal for the assessment year

ITA 1969/CHNY/2016[2011-12]Status: DisposedITAT Chennai09 Oct 2019AY 2011-12

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A.Nos.1969 & 3434/Chny/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/Chny/2017 (िनधा"रण वष" / Assessment Year: 2013-14) Vs The Income Tax Officer, M/S. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(4), 1St Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. Pan: Aaqfs2166M (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri T. Banusekar, Ca ""यथ" क" ओर से/Respondent By : Shri Clement Ramesh Kumar, Jcit

For Appellant: Shri T. Banusekar, CAFor Respondent: Shri Clement Ramesh Kumar, JCIT
Section 2(22)(e)Section 80G

…आयकर अपीलीय अिधकरण, ‘सी’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘C’ BENCH, CHENNAI "ी धु"ु" आर.एल रे"ी, "ाियक सद" एवं "ी एस जयरामन, लेखा सद" के सम" BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.1969 & 3434/CHNY/2016 (िनधा"रण वष" / Assessment Years: 2011-12 & 2012-13) Vs The Income Tax Officer, M/s. Srinivasa Machine Works, No.1A, Regency Apartments, No.5, Non-Corporate Ward 3(3), 1st Lane, Nungambakkam High Chennai. Road, Chennai – 600 034. PAN: AAQFS2166M (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकर अपील सं./I.T.A.No.844/CHNY/2017 (…

Trushar Parimal Shah, Bhavnagar vs. ITO, Ward-1(3), Bhavnagar

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

ITA 268/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad01 Oct 2019AY 2013-14

Bench: Shri Kul Bharat & Shri Waseem Ahmedआयकर अपील सं./Ita No. 268/Ahd/2018 ("नधा"रण वष"/Assessment Year :2013-14) बनाम/ Trushar Parimal Shah The Income Tax 354, Madhav Darshan Officer Vs. Waghawadi Road Ward-1(3) Bhavnagar-364 002 Bhavnagar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Axwps5561M (अपीलाथ"/Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Appellant By : Shri Tushar P. Hemani, Ar ""यथ" क" ओर से/Respondent By: Shri Nilabra Dasgupta, Sr.Dr सुनवाई क" तार"ख/ Date Of Hearing 29/08/2019 घोषणा क" तार"ख /Date Of Pronouncement 01/10/2019 आदेश / O R D E R Per Bench:

For Appellant: Shri Tushar P. Hemani, ARFor Respondent: Shri Nilabra Dasgupta, Sr.DR
Section 133(6)Section 234ASection 271(1)(c)Section 69C

…f such sum as bad debts in the books of accounts. The said fact is evident from the ledger of Ishita Overseas placed on pg.27 of P/B. h. Since such sum has been written off in books as irrecoverable, such bad debts are allowable in light of TRF Ltd. vs. CIT - 323 ITR 397 (SC). i. Alternatively, such sum may be allowed as "Business loss" u/s 28 or 37 of the Act. Reliance is placed on the judgments referred in content of similar argument raised hereinabove w.r.t. sum written off in the name of Sino Star International. j. It is submitted that certain VAT credit \vas written off bv the assessee in the books of acco…