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

Icici Securities Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, the appeal for the AY 2010-11 is partly allowed

ITA 4269/MUM/2013[2009-10]Status: DisposedITAT Mumbai19 Mar 2018AY 2009-10

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11 Icici Securities Ltd. Dy. Commissioner Of Icici Centre, H.T. Parekh Income Tax Range Vs. Marg, Churchgate, 4(1), Mumbai-400020. Mumbai. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By : Mr. M.C. Omi Ningshen, Dr

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. M.C. Omi Ningshen, DR
Section 143(3)Section 40Section 40a

…12,18,53,156/- as they were considered as irrecoverable. Reliance is placed by him on the decision in DIT (International Taxation) v. Oman International Bank SAOG (313 ITR 128) (Bom.), CIT v. Chemicals(Bombay) (P) Ltd. (313 ITR 128) (Bom) and TRF Ltd. v. CIT (323 ITR 397) (SC) and CBDT Circular No. 12/2016 dated May 30, 2016. ICICI Securities 15.4 On the other hand, the Ld. DR relies on the order passed by the Ld. CIT(A). 15.5 We have heard the rival submissions and perused the relevant materials on record. We find that as per section 36(1)(vii), the amount of any debt or part thereof, which has been written off…

M/S. Kansai Nerolac Paints Ltd ( Erstwhile Known As Goodlass Nerolac Paints Ltd), Mumbai vs. The DCIT RG 6(3)

In the result, the appeal for the AY 2005-06 is partly allowed

ITA 212/MUM/2008[2004-2005]Status: DisposedITAT Mumbai19 Mar 2018AY 2004-2005

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2004-05 Kansai Nerolac Paints Ltd. Dcit, Range 6(3) (Erstwhile Known As Room No. 576, Vs. Goodlass Nerolac Paints Ltd.) Aayakar Bhavan, M.K. Nerolac House, G.K. Marg, Marg, Lower Parel, Mumbai-400020. Mumbai-400013. Pan No. Aaacg1376N (Appellant) (Respondent) Assessment Year: 2005-06 & Assessment Year: 2006-07 Kansai Nerolac Paints Ltd. Addl. Cit, Range 6(2) (Erstwhile Known As Aayakar Bhavan, M.K. Vs. Goodlass Nerolac Paints Ltd.) Marg, Nerolac House, G.K. Marg, Mumbai-400020. Lower Parel, Mumbai-400013. Pan No. Aaacg1376N (Appellant) (Respondent) Assessee By : Mrs. Arati Vissanji, Ar Revenue By : Ms. Pooja Swaroop, Dr Date Of Hearing : 02/02/2018 Date Of Pronouncement: 19/03/2018

For Appellant: Mrs. Arati Vissanji, ARFor Respondent: Ms. Pooja Swaroop, DR
Section 143(3)

…he above reasons, the AO disallowed a sum of Rs.29,65,202/-. 12.2 In appeal, the Ld. CIT(A) agreed with the reasons given by the AO and confirmed the above disallowance. 12.3 Before us, the Ld. counsel of the assessee relies on the decision in TRF Ltd. v. CIT 323 ITR 397 (SC). Kansai Nerolac 12.4 On the other hand, the Ld. DR supports the order passed by the Ld. CIT(A). 12.5 We have heard the rival submissions and perused the relevant materials on record. We find that the assessee had filed before the AO the relevant details on account of bad debts written off. We refer here to para 9.1 and 9.2 of the assessment…

DCIT, Cir-12(1)/Kolkata, Kolkata vs. M/S Jct Ltd., Kolkata

In the result, this ground of the revenue is dismissed

ITA 345/KOL/2015[1999-2000]Status: DisposedITAT Kolkata09 Mar 2018AY 1999-2000

Bench: Sri J. Sudhakar Reddy & Sri S. S. Viswanethra Ravi] I.T.A. No. 228/Kol/2015 Assessment Year: 1999-2000

Section 139(1)Section 143(3)Section 2(24)(x)Section 250Section 36(1)Section 43B

…e is as to whether the ld. CIT(A) was right in allowing the claim of the assessee of bad debts written off. This decision of the ld. CIT(A) is in consonance with the propositions of law laid down by the Hon’ble Supreme Court in the case TRF Ltd. v. CIT [2010] 190 Taxmann 391 [SC]. Hence, we find no infirmity in the order of the ld. CIT(A) and dismiss this ground of the revenue. 13. Ground No. 2 is on the issue of deletion of addition made on account of foreign exchange loss claimed by the assessee. The undisputed fact is that this loss of foreign exchange is on current account. Under these circumstances, we find…

Jct Limited, Kolkata vs. DCIT, Cir-12(1)/Kolkata, Kolkata

In the result, this ground of the revenue is dismissed

ITA 228/KOL/2015[1999-2000]Status: DisposedITAT Kolkata09 Mar 2018AY 1999-2000

Bench: Sri J. Sudhakar Reddy & Sri S. S. Viswanethra Ravi] I.T.A. No. 228/Kol/2015 Assessment Year: 1999-2000

Section 139(1)Section 143(3)Section 2(24)(x)Section 250Section 36(1)Section 43B

…e is as to whether the ld. CIT(A) was right in allowing the claim of the assessee of bad debts written off. This decision of the ld. CIT(A) is in consonance with the propositions of law laid down by the Hon’ble Supreme Court in the case TRF Ltd. v. CIT [2010] 190 Taxmann 391 [SC]. Hence, we find no infirmity in the order of the ld. CIT(A) and dismiss this ground of the revenue. 13. Ground No. 2 is on the issue of deletion of addition made on account of foreign exchange loss claimed by the assessee. The undisputed fact is that this loss of foreign exchange is on current account. Under these circumstances, we find…

DCIT, Circle-10(1), Kolkata vs. K.N.D. Engineering Technologies Pvt. Ltd., Kolkata

In the result the appeal by the revenue is dismissed

ITA 1979/KOL/2016[2013-14]Status: DisposedITAT Kolkata01 Mar 2018AY 2013-14

Bench: Hon'Ble Sri N.V.Vasudevan, Jm & Hon'Ble Sri Waseem Ahmed, Am] Assessment Year : 2013-14

For Appellant: Shri.A.K.Tiwari, CITFor Respondent: Shri A.Dudhwewala, FCA
Section 36(1)(vii)Section 36(2)Section 37Section 37(1)Section 40

…36(2) of the Act. The assessee submitted that since the bad debts were written off in the previous year relevant to A.Y.2013-14, the claim had to be allowed as deduction keeping in mind the decision of the Hon’ble Supreme Court in the case of TRF Ltd. Vs CIT 323 ITR 397 (SC). 10. The AO however did not allow the claim of the assessee on the ground that the income ,in respect of the bad debts written off was recognized by the assessee only in A.Y.2012-13. The AO also held that the assessee failed to prove that the debt in question had become bad. 11. On appeal by the assessee the CIT(A) deleted the addition made…

Devkishin Bherumal Pahlajani, Mumbai vs. Asst CIT 11(2), Mumbai

In the result, appeal filed by the assessee for assessment year 2011-

ITA 163/MUM/2016[2011-12]Status: DisposedITAT Mumbai28 Feb 2018AY 2011-12

Bench: Shri Shamim Yahya (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2011-12 Dr. Devkishin Bherumal Pahlajani, The Asst. Cit 16(2), Soona Villa, Flat No. 81/82, Aayakar Bhavan, 4Th Floor, Perry Cross Road, Maharshi Karve Road, Bandra (West), Vs. Mumbai - 400020 Mumbai – 400050 Pan: Aacpp5413E (Appellant) (Respondent) Assessee By : Shri P.V. Desai (Ar) Revenue By : Shri Ram Tiwari (Sr. Dr) Date Of Hearing: 11/01/2018 Date Of Pronouncement: 28/02/2018

For Appellant: Shri P.V. Desai (AR)For Respondent: Shri Ram Tiwari (Sr. DR)
Section 143Section 143(1)Section 143(2)Section 14ASection 57

…ritten off as irrecoverable in the accounts of the assessee. We further noticed that the ‘D’ Bench of the ITAT Delhi has decided this issue in favour of the assessee following the ratio laid down by the Hon’ble Supreme Court in the case of T.R.F. Ltd vs. CIT, 323 ITR 397 in which it has been held that after April 1, 1989, it is not necessary for the assessee to establish that the that in debt has become irrecoverable. It is enough if the bad debt is written off as irrevocable in the accounts of the assessee. Although, the assessee has not raised this point before the authorities below, yet as per the decision of…

Zen Industrial Services Limited, Kolkata vs. DCIT, Circle-5(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 2110/KOL/2016[2012-13]Status: DisposedITAT Kolkata19 Feb 2018AY 2012-13

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2110/Kol/2016 Assessment Year : 2012-13 Zen Industrial Services Ltd. -Vs- Dcit, Circle-5(1), Kolkata [Pan: Aaacz 1829 R] (Appellant) (Respondent)

For Appellant: Shri Sanjoy Bhattacharya, FCAFor Respondent: Shri Sallong Yaden, Addl. CIT
Section 143(3)Section 36(1)(vii)

…1)(vii), the assessee had duly written off both the principal portion as well as the interest portion as irrecoverable in its books of accounts. Hence, by placing reliance on the decision of Hon’ble Supreme Court in the case of TRF Limited vs. CIT reported in 323 ITR 397 (SC), we hold that the assessee had indeed satisfied the conditions prescribed in Section 36(1)(vii) read with Section 36(2) of the Act. The assessee had even passed Board Resolution wherein it was decided that no part of the said amount of interest receivable or the principal portion of loan could be realized by the assessee company from Mr. Ume…

Tranter India Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, appeal of the Assessee is allowed

ITA 478/PUN/2016[2010-11]Status: DisposedITAT Pune09 Feb 2018AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

For Appellant: Shri Manoj SolankiFor Respondent: Shri Prashant Gadekar
Section 143(3)Section 37

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण पुणे अिधकरण पुणे पुणे "यायपीठ पुणे "यायपीठ "यायपीठ “बी "यायपीठ बी बी” पुणे बी पुणे पुणे म"म"म"म" पुणे IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सु"ी सुषमा सु"ी सुषमा चावला चावला, "याियक "याियक सद"य सद"य एवं एवं "ी "ी डी डी. क"णाकरा क"णाकरा राव राव, लेखा लेखा सद"य सद"य केकेकेके सम" सम" सु"ी सु"ी सुषमा सुषमा चावला चावला "याियक "याियक सद"य सद"य एवं एवं "ी "ी डी डी क"णाकरा क"णाकरा राव राव लेखा लेखा सद"य सद"य सम" सम" BEFORE MS. SUSHMA CHOWLA, JM AND SHRI D. KARUNAKARA RAO, AM आयक आयकर अपील आयक आयक अपील अपील संसंसंसं. / ITA No.377/PU…

Deputy Commissioner of Income-Tax vs. M/S. Tranter India Pvt. Ltd., Pune

In the result, appeal of the Assessee is allowed

ITA 377/PUN/2016[2010-11]Status: DisposedITAT Pune09 Feb 2018AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am

For Appellant: Shri Manoj SolankiFor Respondent: Shri Prashant Gadekar
Section 143(3)Section 37

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण पुणे अिधकरण पुणे पुणे "यायपीठ पुणे "यायपीठ "यायपीठ “बी "यायपीठ बी बी” पुणे बी पुणे पुणे म"म"म"म" पुणे IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE सु"ी सुषमा सु"ी सुषमा चावला चावला, "याियक "याियक सद"य सद"य एवं एवं "ी "ी डी डी. क"णाकरा क"णाकरा राव राव, लेखा लेखा सद"य सद"य केकेकेके सम" सम" सु"ी सु"ी सुषमा सुषमा चावला चावला "याियक "याियक सद"य सद"य एवं एवं "ी "ी डी डी क"णाकरा क"णाकरा राव राव लेखा लेखा सद"य सद"य सम" सम" BEFORE MS. SUSHMA CHOWLA, JM AND SHRI D. KARUNAKARA RAO, AM आयक आयकर अपील आयक आयक अपील अपील संसंसंसं. / ITA No.377/PU…

Axis Carriers & Logistics Ltd, Mumbai vs. DCIT 10(2), Mumbai

The appeal of the AO is dismissed

ITA 7448/MUM/2014[2011-12]Status: DisposedITAT Mumbai07 Feb 2018AY 2011-12
For Appellant: S/Shri Hiro Rai,Dharan GandhiFor Respondent: Shri Ram Tiwari-DR
Section 143(3)Section 254(1)Section 37Section 40A

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “जी मुंबई जी जी ” खंडपीठ जी खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal “G”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"", लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं रिवश एवं रिवश रिवश सूद रिवश सूद सूद, "याियक सूद "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Sh. Rajendra,Accountant Member & Ravish Sood, Judicial Member आयकर अपील आयकर अपील संसंसंसं./I.T.A./163/Mum/2015, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Asstt.CIT-14(1)(1) M/…

Late Surendra Kumar Bansal T/H Legal Heir Smt. Saroj Bansal, Jaipur vs. Assistant Commissioner of Income Tax, Circle-1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 730/JPR/2017[2013-14]Status: DisposedITAT Jaipur05 Feb 2018AY 2013-14

Bench: The Hearing Of The Appeal.”

For Appellant: Shri Tanuj Agrawal (Adv.)For Respondent: Shri R.A. Verma (Addl. CIT)
Section 133ASection 36Section 36(1)(vii)Section 36(2)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh Hkkxpan] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, AM vk;dj vihy la-@ITA No. 730/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Late Surendra Kumar Bansal ACIT, Vs. Through legal Heir Smt. Saroj Bansal Circle-1 D-14, Bansal Villa, Path No. 03, Jaipur. Jamna Nagar, Behind Petrol Pump, Sodala, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ACGPB4341M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Tanuj Agra…

ITO, WD-12(3), Kolkata vs. M/S Arpee Builders & Promoters Pvt. Ltd., Kolkata

In the result, appeal of the revenue is partly allowed and the Cross Objection of assessee is dismissed

ITA 303/KOL/2014[2009-2010]Status: DisposedITAT Kolkata05 Feb 2018AY 2009-2010

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

…1 ITA No.303/Kol/2014 & CO No.52/Cal/2014 Arpee Builders & Promoters Pvt. Ltd., AYs- 2009-10 आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA (सम")Before "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/and "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM] I.T.A. No. 303/Kol/2014 Assessment Year: 2009-10 Income-tax Officer, Wd-12(3), Kolkata Vs. M/s. Arpee Builders & Promoters Pvt. Ltd. (PAN:AACCA6106C) Appellant Respondent & C.O. 52/Kol/2014 In I.T.A. No. 303/Kol/2014 Assessment Year: 2009-10 M/s. Arpee Builders & Promoters Pvt.Ltd. Vs.…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1542/PUN/2015[2011-12]Status: DisposedITAT Pune29 Jan 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1541/PUN/2015[2008-09]Status: DisposedITAT Pune29 Jan 2018AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Deputy Commissioner of Income-Tax vs. M/S. Finolex Plasson Industries Pvt. Ltd., Pune

The appeals of the Revenue are dismissed

ITA 1540/PUN/2015[2005-06]Status: DisposedITAT Pune29 Jan 2018AY 2005-06

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1278/PUN/2015[2011-12]Status: DisposedITAT Pune29 Jan 2018AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1277/PUN/2015[2009-10]Status: DisposedITAT Pune29 Jan 2018AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1276/PUN/2015[2008-09]Status: DisposedITAT Pune29 Jan 2018AY 2008-09

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1275/PUN/2015[2007-08]Status: DisposedITAT Pune29 Jan 2018AY 2007-08

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…

Finolex Plasson Industries Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

The appeals of the Revenue are dismissed

ITA 1274/PUN/2015[2006-07]Status: DisposedITAT Pune29 Jan 2018AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Jayant G. PendseFor Respondent: Shri Ajay Modi
Section 132Section 139Section 143(3)Section 153ASection 234C

…ied with the requirement of writing off of individual bad debts. The Commissioner of Income Tax (Appeals) has accepted the same. The ld. AR submitted that the Hon‟ble Supreme Court of India in the case of T.R.F. Ltd. Vs. Commissioner of Income Tax reported as 323 ITR 397 has held that it is enough if the bad debts are written off as irrecoverable. The assessee is not under obligation to establish that the debt, in fact, has become irrecoverable. The ld. AR further submitted that the Commissioner of Income Tax (Appeals) in assessment years 2005-06, 2008-09 and 2011-12 allowed individual bad debts up to Rs.1,00,000…