TRS Ltd. v. CIT

323 ITR 327Reported decision#20498 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2019 to 2021.

Judgments citing TRS Ltd. v. CIT

Addl. CIT, Special Range- 2, New Delhi vs. C.L. Educate Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 170/DEL/2018[2014-15]Status: DisposedITAT Delhi15 Jun 2021AY 2014-15

Bench: Shri O.P. Kant & Shri K.Narasimha Chary

Section 14Section 14ASection 36Section 36(1)(vii)

…essee did not declare the impugned amount as income. It goes unchallenged that the assessee declared this amount as income in earlier assessment years and also paid the taxes. In view of the decision of the Hon’ble Supreme Court in the case of TRS Ltd vs. CIT 323 ITR 327, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable; and that,it is enough if the debt is written off as irrecoverable in the accounts of the assessee. There is no doubt that the conditions under section 36(1)(vii) read with section 36 (2) of the Act are satisfied. The deletion of this addition by t…

Labh Construction & Industries Ltd., Ahmedabad vs. Dy. Commissioner of Income Tax, Circle-4, Ahmedabad

In the result, the appeal of the Revenue is partly allowed for statistical purpose and appeal of the assessee vide ITA No

ITA 2010/AHD/2015[2003-04]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2003-04

Bench: Shri Rajpal Yadav&Shri Amarjit Singhआयकर अपील सं./I.T.A. Nos.1926 & 1745/Ahd/2014 & 2010/Ahd/2015 ("नधा"रण वष" / Assessment Years:2002-03& 2003-04) Ito Labh Construction बनाम/ &Industries Ltd. Ward-4(3), Vs. 104-Shantanu, Opp. Ahmedabad Hotel Klassic Gold, Sardar Patel Nagar, E.B., Ahmedabad- 380006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaa Cl2 648 G .. (अपीलाथ"/Appellant) (""यथ" / Respondent)

For Appellant: Shri L. P. Jain, Sr. DRFor Respondent: 15/07/2019
Section 143(3)

…e the income is not being realized from that project the appellant wants to write that off in the current year as bad debt. The law related to write off of bad debt has since been settled by the honourable Supreme Court by the decision in the case of TRF Ltd 323 ITR 327. It has been held by the honourable Supreme Court that after 01/04/1989 it was not necessary for the appellant to establish that the debt, in fact, has become irrecoverable. It was enough if the bad debt is written off as irrecoverable in the accounts of the appellant. Therefore, the appellant has to only establish now that the amount has actuall…

The ITO, Ward-4(3), Ahmedabad vs. Labh Construction & Industries Ltd., Ahmedabad

In the result, the appeal of the Revenue is partly allowed for statistical purpose and appeal of the assessee vide ITA No

ITA 1926/AHD/2014[2002-03]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2002-03

Bench: Shri Rajpal Yadav&Shri Amarjit Singhआयकर अपील सं./I.T.A. Nos.1926 & 1745/Ahd/2014 & 2010/Ahd/2015 ("नधा"रण वष" / Assessment Years:2002-03& 2003-04) Ito Labh Construction बनाम/ &Industries Ltd. Ward-4(3), Vs. 104-Shantanu, Opp. Ahmedabad Hotel Klassic Gold, Sardar Patel Nagar, E.B., Ahmedabad- 380006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaa Cl2 648 G .. (अपीलाथ"/Appellant) (""यथ" / Respondent)

For Appellant: Shri L. P. Jain, Sr. DRFor Respondent: 15/07/2019
Section 143(3)

…e the income is not being realized from that project the appellant wants to write that off in the current year as bad debt. The law related to write off of bad debt has since been settled by the honourable Supreme Court by the decision in the case of TRF Ltd 323 ITR 327. It has been held by the honourable Supreme Court that after 01/04/1989 it was not necessary for the appellant to establish that the debt, in fact, has become irrecoverable. It was enough if the bad debt is written off as irrecoverable in the accounts of the appellant. Therefore, the appellant has to only establish now that the amount has actuall…

Labh Construction & Industries Ltd., Ahmedabad vs. The ACIT, Circle-4, Ahmedabad

In the result, the appeal of the Revenue is partly allowed for statistical purpose and appeal of the assessee vide ITA No

ITA 1745/AHD/2014[2002-03]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2002-03

Bench: Shri Rajpal Yadav&Shri Amarjit Singhआयकर अपील सं./I.T.A. Nos.1926 & 1745/Ahd/2014 & 2010/Ahd/2015 ("नधा"रण वष" / Assessment Years:2002-03& 2003-04) Ito Labh Construction बनाम/ &Industries Ltd. Ward-4(3), Vs. 104-Shantanu, Opp. Ahmedabad Hotel Klassic Gold, Sardar Patel Nagar, E.B., Ahmedabad- 380006 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaa Cl2 648 G .. (अपीलाथ"/Appellant) (""यथ" / Respondent)

For Appellant: Shri L. P. Jain, Sr. DRFor Respondent: 15/07/2019
Section 143(3)

…e the income is not being realized from that project the appellant wants to write that off in the current year as bad debt. The law related to write off of bad debt has since been settled by the honourable Supreme Court by the decision in the case of TRF Ltd 323 ITR 327. It has been held by the honourable Supreme Court that after 01/04/1989 it was not necessary for the appellant to establish that the debt, in fact, has become irrecoverable. It was enough if the bad debt is written off as irrecoverable in the accounts of the appellant. Therefore, the appellant has to only establish now that the amount has actuall…

TRS Ltd. v. CIT (323 ITR 327) — Cited in 4 Judgments | BharatTax