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 367,154 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

John Developers, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

ITA 846/BANG/2023[2015-16]Status: DisposedITAT Bangalore24 Jul 2024AY 2015-16

…ed in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4-1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

John Developers, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 845/BANG/2023[2014-15]Status: DisposedITAT Bangalore24 Jul 2024AY 2014-15

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…d in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4- 1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 841/BANG/2023[2014-15]Status: DisposedITAT Bangalore24 Jul 2024AY 2014-15

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…d in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4- 1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 840/BANG/2023[2013-14]Status: DisposedITAT Bangalore24 Jul 2024AY 2013-14

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…d in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4- 1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 839/BANG/2023[2012-13]Status: DisposedITAT Bangalore24 Jul 2024AY 2012-13

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…d in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4- 1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

M/S. Paul Resorts & Hotels Pvt. Ltd., Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 838/BANG/2023[2011-12]Status: DisposedITAT Bangalore24 Jul 2024AY 2011-12

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…d in the earlier year. 6. The above facts have not been disputed by ld. DR that the assessee has actually written off in the assessment year under consideration as bad debts of Rs.1,87,70,011/-. The Honble Apex Court in the case of T.R.F. Ltd. V/s CIT (2010) 323 ITR 397 (SC) has held that "w.e.f. 1-4-1989, it is enough if bad debt is written off as irrecoverable in accounts of assessee to satisfy the condition of Section 36(1)(vii) of the Income-tax Act, 1961". In view of the above amendment w.e.f. 1-4- 1989 the assessee is entitled to claim deduction as it would satisfy the purpose of the Act. In view of above,…

Jhaveri Trading and Investment Pvt.Ltd., Ahmedabad vs. The DCIT, Cent. Cir. 1(1), Ahmedabad

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

ITA 403/AHD/2023[2014-15]Status: DisposedITAT Ahmedabad13 Jun 2024AY 2014-15

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri Sudhendu Das, CIT.DR
Section 132(4)Section 68

…here remains no ambiguity that the assessee has offered the amount of bad debts as income in the earlier year and therefore the same should be allowed as deduction in view of the judgement of Hon’ble Supreme Court in the case of TRF Ltd versus CIT reported in 323 ITR 397 wherein it was observed that it is not necessary to establish that bad debts has become irrecoverable. For claiming deduction under section 36(1)(vii) of the Act, it is enough if such bad debts are written off in the books of accounts. Hence, we set aside the finding of the ld. CIT-A and direct the AO to delete the addition made by him. Thus, the…

Jhaveri Trading and Investment Pvt.Ltd., Ahmedabad vs. The DCIT, Cent. Cir. 1(1), Ahmedabad

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

ITA 402/AHD/2023[2013-14]Status: DisposedITAT Ahmedabad13 Jun 2024AY 2013-14

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri Sudhendu Das, CIT.DR
Section 132(4)Section 68

…here remains no ambiguity that the assessee has offered the amount of bad debts as income in the earlier year and therefore the same should be allowed as deduction in view of the judgement of Hon’ble Supreme Court in the case of TRF Ltd versus CIT reported in 323 ITR 397 wherein it was observed that it is not necessary to establish that bad debts has become irrecoverable. For claiming deduction under section 36(1)(vii) of the Act, it is enough if such bad debts are written off in the books of accounts. Hence, we set aside the finding of the ld. CIT-A and direct the AO to delete the addition made by him. Thus, the…

Jhaveri Trading and Investment Pvt.Ltd., Ahmedabad vs. The DCIT, Cent. Cir. 1(1), Ahmedabad

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

ITA 401/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad13 Jun 2024AY 2012-13

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri Sudhendu Das, CIT.DR
Section 132(4)Section 68

…here remains no ambiguity that the assessee has offered the amount of bad debts as income in the earlier year and therefore the same should be allowed as deduction in view of the judgement of Hon’ble Supreme Court in the case of TRF Ltd versus CIT reported in 323 ITR 397 wherein it was observed that it is not necessary to establish that bad debts has become irrecoverable. For claiming deduction under section 36(1)(vii) of the Act, it is enough if such bad debts are written off in the books of accounts. Hence, we set aside the finding of the ld. CIT-A and direct the AO to delete the addition made by him. Thus, the…

Jhaveri Trading and Investment Pvt.Ltd., Ahmedabad vs. The DCIT, Cent. Cir. 1(1), Ahmedabad

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

ITA 400/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad13 Jun 2024AY 2011-12

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri Sudhendu Das, CIT.DR
Section 132(4)Section 68

…here remains no ambiguity that the assessee has offered the amount of bad debts as income in the earlier year and therefore the same should be allowed as deduction in view of the judgement of Hon’ble Supreme Court in the case of TRF Ltd versus CIT reported in 323 ITR 397 wherein it was observed that it is not necessary to establish that bad debts has become irrecoverable. For claiming deduction under section 36(1)(vii) of the Act, it is enough if such bad debts are written off in the books of accounts. Hence, we set aside the finding of the ld. CIT-A and direct the AO to delete the addition made by him. Thus, the…

Jhaveri Trading and Investment Pvt.Ltd., Ahmedabad vs. The DCIT, Cent. Cir. 1(1), Ahmedabad

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

ITA 399/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad13 Jun 2024AY 2010-11

Bench: Shri Waseem Ahmed & Shri Tr Senthil Kumarआयकर अपील सं./Ita Nos. 401 To 403/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2012-2013 To 2014-2015) & आयकर अपील सं./Ita Nos. 399 & 400/Ahd/2023 "नधा"रण वष"/Asstt. Years: (2010-2011 & 2011-12)

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri Sudhendu Das, CIT.DR
Section 132(4)Section 68

…here remains no ambiguity that the assessee has offered the amount of bad debts as income in the earlier year and therefore the same should be allowed as deduction in view of the judgement of Hon’ble Supreme Court in the case of TRF Ltd versus CIT reported in 323 ITR 397 wherein it was observed that it is not necessary to establish that bad debts has become irrecoverable. For claiming deduction under section 36(1)(vii) of the Act, it is enough if such bad debts are written off in the books of accounts. Hence, we set aside the finding of the ld. CIT-A and direct the AO to delete the addition made by him. Thus, the…

Addi. CIT Special Range- 7, New Delhi vs. Oxigen Services India Pvt. Ltd., New Delhi

In the result, appeal by the revenue is dismissed

ITA 8461/DEL/2019[2016-17]Status: HeardITAT Delhi13 Jun 2024AY 2016-17

Bench: Shri Vikas Awasthy & Shri Naveen Chandraआअसं.8461/िद"ी/2019 (िन.व. 2016-17) Additional Commissioner Of Income-Tax, Special Range-7, Room No. 211, C.R Building, New Delhi 110002 ...... अपीलाथ"/Appellant बनाम Vs. M/S Oxigen Services India Pvt. Ltd., G-4, C-Block, Community Centre, Naraina Vihar, New Delhi 110028 ..... "ितवादी/Respondent Pan: Aabci-1405-K

For Appellant: Shri Bhopal Singh, Sr. DRFor Respondent: Shri Praveen Kumar, CA
Section 37

…f Bad Debts amounting to Rs. 13,03,404/-. The AO in para 6 of the assessment order has recorded the fact that the assessee in its books of accounts has Written Off Bad Debts. He submitted that the Hon’ble Supreme Court of India in the case of TRF Ltd. vs. CIT 190 Taxmann 391 (SC) has held that it is not necessary for the assessee to establish that debt in fact has become recoverable. It is enough, if, bad debt is written off as irrecoverable in books of account. The ld. AR further placed reliance on CBDT Circular No. 12/2016, wherein the Department has accepted the law settled by the Hon’ble Apex Court in the cas…

Jaiprakash Associates Ltd., Noida vs. DCIT, Circle- 1, Noida

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

ITA 3876/DEL/2018[2010-11]Status: DisposedITAT Delhi07 May 2024AY 2010-11

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Ashwani Kumar Garg, AdvFor Respondent: Shri Sandeep Kumar Mishra, Sr. DR
Section 28

…ebts has not been established. The ld. counsel for the assessee further argued that the condition of establishing debt irrecoverability is no longer required w.e.f 01.04.1989. He relied on the decision of the Hon'ble Supreme Court in the case of TRF Limited 323 ITR 397 and CBDT Circular No12/2016 in support. 9. The ld. counsel for the assessee further contended that on the issue of sundry balances written off, the Assessing Officer’s observation that no details as required were furnished is factually wrong as all details including ledger account of the debtors were filed and was on record of the Assessing O…

Shri. Moolchand Kiran Kumar Jain, Chennai vs. DCIT, Central Circle 1(4), Chennai

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

ITA 1418/CHNY/2023[2021-22]Status: DisposedITAT Chennai09 Apr 2024AY 2021-22

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. D. Anand, Advocate
Section 153ASection 28Section 36Section 36(1)(iii)Section 36(1)(vii)Section 36(2)Section 37Section 37(1)

…36(2) of the Act. The Assessing Officer and ld. CIT(A), without appreciating relevant facts simply sustained additions made by the Assessing Officer. In this regard, he relied upon the decision of Hon’ble Supreme Court in the case of TRF Limited vs CIT [2010] 323 ITR 397. The appellant has also relied upon the decision of ITAT Bangalore Benches in the case of Pranava Electronics Pvt Ltd vs DCIT in ITA No. 415/Bang/2015. The Ld. Counsel for the assessee, further submitted that the write off of bad debts pertains to loans and advances given to M/s. Dilip Chabbria Designs Pvt Ltd, shall qualify to be allowed as dedu…

Shri. Moolchand Kiran Kumar Jain, Chennai vs. DCIT, Central Circle 1(4), Chennai

In the result, appeal filed by the assessee for assessment years 2020-21 & 2021-22 are partly allowed for statistical purposes

ITA 1417/CHNY/2023[2020-21]Status: DisposedITAT Chennai09 Apr 2024AY 2020-21

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1417 & 1418/Chny/2023 िनधा"रण वष" / Assessment Years: 2020-21 & 2021-22 Shri. Moolchand Kiran Kumar Deputy Commissioner Of Jain, V. Income-Tax, No. 123, Usman Road, Central Circle 1(4), T. Nagar, Chennai – 600 017. Chennai – 600 034. [Pan: Achpm-2247-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Anand, Advocate : Shri. V. Nandakumar, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. D. Anand, Advocate
Section 153ASection 28Section 36Section 36(1)(iii)Section 36(1)(vii)Section 36(2)Section 37Section 37(1)

…36(2) of the Act. The Assessing Officer and ld. CIT(A), without appreciating relevant facts simply sustained additions made by the Assessing Officer. In this regard, he relied upon the decision of Hon’ble Supreme Court in the case of TRF Limited vs CIT [2010] 323 ITR 397. The appellant has also relied upon the decision of ITAT Bangalore Benches in the case of Pranava Electronics Pvt Ltd vs DCIT in ITA No. 415/Bang/2015. The Ld. Counsel for the assessee, further submitted that the write off of bad debts pertains to loans and advances given to M/s. Dilip Chabbria Designs Pvt Ltd, shall qualify to be allowed as dedu…

Manohar Prasad Akkineni, Chennai vs. Income Tax Officer, Chennai

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

ITA 1216/CHNY/2023[2013-14]Status: DisposedITAT Chennai12 Mar 2024AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri N. Arjun Raj, CAFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 143(3)Section 36

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 1216/CHNY/2023 िनधा"रण वष"/Assessment Year: 2013-14 Shri Manohar Prasad Akkineni, The Income Tax Officer, No.2, Sarangapani Street, Vs. Non-Corporate Circle 20(1), T.Nagar, Chennai -600 017. Chennai. PAN: AAGPP 5384A (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri N. Arjun Raj, CA ""यथ" क" ओर से/Respondent by : Shri…

ACIT, Circle- 24(1), New Delhi vs. Span India Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6451/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2024AY 2014-15

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Pradeep Dinodia, CA &For Respondent: Ms. Deepti Chandola, Sr. DR
Section 14Section 14(2)Section 14ASection 14A(2)

…lowable u/s 28 of the Income Tax Act, 1961. The ld. CIT (A) held that since the amount has not been offered to tax hither to, it cannot be considered for application of provision u/s 36(2)(ii). The judgment of the Hon’ble Supreme Court in the case of TRF Ltd. 323 ITR 397 found to be inapplicable by the ld. CIT (A). The ld. CIT (A) has also not allowed the loss as capital loss on the grounds that there has not been any existence of a capital asset. 15. During the hearing before us, the ld. AR argued mainly that if the amount is not allowable u/s 36(2)(ii), the same is still allowable u/s 28 of the Act as the amou…

The DCIT, Central Circle-2(1), Ahmedabad vs. Dolphin Laboratories Ltd., ( Now Known As Intas Pharmaceuticals Ltd., Ahmedabad

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

ITA 1298/AHD/2014[2004-05]Status: DisposedITAT Ahmedabad14 Feb 2024AY 2004-05

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143(3)Section 263Section 36(1)(va)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “ C ” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA No. 1297/Ahd/2014 & Assessment Year(s): 2004-05 The Dy.CIT M/s. Dolphin Laboratories Ltd. Central Circle-2(1) (Now known as M/s. Intas Ahmedabad Vs Pharmaceuticals Ltd.) 203, Chinubhai Centre Ashram Road Ahmedabad PAN: AABCD 0197 M Revenue Represented: Shri S.N. Soparkar, Sr.Advocate Assessee Represented: Shri Ashok Kumar Suthar, Sr.DR Date of hearing : 16-01-2024 Date of pronouncement : 14-02-2024 आदेश/ORDER PER T.R. SENTHIL KUMAR, JUDICIAL MEMBER T…

The DCIT, Central Circle-2(1), Ahmedabad vs. Dolphin Laboratories Ltd., ( Now Known As Intas Pharmaceuticals Ltd., Ahmedabad

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

ITA 1297/AHD/2014[2004-05]Status: DisposedITAT Ahmedabad14 Feb 2024AY 2004-05

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143(3)Section 263Section 36(1)(va)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “ C ” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA No. 1297/Ahd/2014 & Assessment Year(s): 2004-05 The Dy.CIT M/s. Dolphin Laboratories Ltd. Central Circle-2(1) (Now known as M/s. Intas Ahmedabad Vs Pharmaceuticals Ltd.) 203, Chinubhai Centre Ashram Road Ahmedabad PAN: AABCD 0197 M Revenue Represented: Shri S.N. Soparkar, Sr.Advocate Assessee Represented: Shri Ashok Kumar Suthar, Sr.DR Date of hearing : 16-01-2024 Date of pronouncement : 14-02-2024 आदेश/ORDER PER T.R. SENTHIL KUMAR, JUDICIAL MEMBER T…

DCIT, New Delhi vs. Carissa Investment Pvt. Ltd., Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1648/DEL/2021[2013-14]Status: DisposedITAT Delhi07 Feb 2024AY 2013-14

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Mayank Patwari, CAFor Respondent: Ms. Sapna Bhatia, CIT-DR
Section 14A

…the hope that this litigation would be eliminated by permitting a debt to be treated as a bad or recoverable-no sooner it was written off in the books of the assessed concerned.” 13. Further, the Hon’ble Supreme Court in the case of TRF Ltd. Vs. CIT (2010) (323 ITR 397) held as under: “……………. (vii) Subject to the provisions of sub-section (2), 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.” This position in law is well-settled. After 1-4-1989, it is not necessary for the assessee to establish that the debt, in fact, 12 C…