Vijaya Bank v. CIT

323 ITR 166Supreme Court of India2010#188 most cited

What is Vijaya Bank v. CIT authority for?

A provision for bad and doubtful debts debited to the profit and loss account and reduced from advances on the balance sheet constitutes a write-off for deduction purposes. This is true even if individual debtor accounts are not closed.

392

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2011 to 2026.

Also referred to as

Vijaya Bank v. CIT · section 36(1)(vii) · write off bad debts · provision for doubtful debts · deduction for bad debts · profit and loss account · balance sheet · advances · loans

Also reported as

190 Taxmann 257231 CTR 209

Sections most often in play

Section 36(1)(vii)Section 143(3)Section 14ASection 115JBSection 37(1)Section 36(1)(viia)Section 32(1)(iia)Section 10(34)
Read the full judgment

Issues it is cited on

section 36(2)(v)section 41(4)section 36(1)(viia)section 36(1)(vii)section 36(2)section 36(1)(viii)section 115jb(2)additional depreciationsection 10(34)book profitssection 41section 115j

Judgments citing Vijaya Bank v. CIT

Religare Finvest Ltd., New Delhi vs. ACIT, Circle- 21(1), New Delhi

In the result, -Appeal in ITA No

ITA 7856/DEL/2017[2014-15]Status: DisposedITAT Delhi13 Jul 2023AY 2014-15

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

Section 14A

…of the assessee in ITA No. 2559/Del/2016 vide order dated 10/12/2021 passed by the Co-ordinate Bench of this Tribunal in Assessee’s own case for the Assessment Year 2010-11, wherein the Tribunal has followed the decision of Vijaya Bank Vs. CIT(A) reported in 323 ITR 166 and held that since the assessee company duly reduced the bad debts from the figure of loss and advances as appearing in the balance sheet, the same could not be treated as merely creating provision and was in the nature of bad debts written off. 28 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT 24. We have heard both partie…

ACIT, Circle- 21(1), New Delhi vs. Religare Finvest Ltd., New Delhi

In the result, -Appeal in ITA No

ITA 5202/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Jul 2023AY 2012-13

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

Section 14A

…of the assessee in ITA No. 2559/Del/2016 vide order dated 10/12/2021 passed by the Co-ordinate Bench of this Tribunal in Assessee’s own case for the Assessment Year 2010-11, wherein the Tribunal has followed the decision of Vijaya Bank Vs. CIT(A) reported in 323 ITR 166 and held that since the assessee company duly reduced the bad debts from the figure of loss and advances as appearing in the balance sheet, the same could not be treated as merely creating provision and was in the nature of bad debts written off. 28 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT 24. We have heard both partie…

Religare Finvest Ltd., New Delhi vs. DCIT, Circle- 21(1), New Delhi

In the result, -Appeal in ITA No

ITA 4796/DEL/2017[2012-13]Status: PendingITAT Delhi13 Jul 2023AY 2012-13

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

Section 14A

…of the assessee in ITA No. 2559/Del/2016 vide order dated 10/12/2021 passed by the Co-ordinate Bench of this Tribunal in Assessee’s own case for the Assessment Year 2010-11, wherein the Tribunal has followed the decision of Vijaya Bank Vs. CIT(A) reported in 323 ITR 166 and held that since the assessee company duly reduced the bad debts from the figure of loss and advances as appearing in the balance sheet, the same could not be treated as merely creating provision and was in the nature of bad debts written off. 28 ITA Nos. 4796/Del/2017 & ors. M/s Religare Finvest Ltd. Vs. DCIT 24. We have heard both partie…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 720/MUM/2020[2016-17]Status: DisposedITAT Mumbai30 Jun 2023AY 2016-17

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…e Act. Before the Ld. CIT(A) the assessee relied on the decision of the Act. Before the Ld. CIT(A) the assessee relied on the decision of the Supreme Court in the case of Vijaya Bank v. CIT (2010) Vijaya Bank v. CIT (2010) Hon’ble Supreme Court in the case of 322 ITR 166 (SC) to support that once the amount of provision has to support that once the amount of provision has to support that once the amount of provision has been reduced from the debtors been reduced from the debtors in balance sheet, , it amounts to written off of bad debts and therefore it was not written off of bad debts and therefore it was not an…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 719/MUM/2020[2015-16]Status: DisposedITAT Mumbai30 Jun 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…e Act. Before the Ld. CIT(A) the assessee relied on the decision of the Act. Before the Ld. CIT(A) the assessee relied on the decision of the Supreme Court in the case of Vijaya Bank v. CIT (2010) Vijaya Bank v. CIT (2010) Hon’ble Supreme Court in the case of 322 ITR 166 (SC) to support that once the amount of provision has to support that once the amount of provision has to support that once the amount of provision has been reduced from the debtors been reduced from the debtors in balance sheet, , it amounts to written off of bad debts and therefore it was not written off of bad debts and therefore it was not an…

DCIT Circle-1, Thane vs. M/S Everest Industries Ltd., Delhi

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 652/MUM/2020[2014-15]Status: DisposedITAT Mumbai30 Jun 2023AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…e Act. Before the Ld. CIT(A) the assessee relied on the decision of the Act. Before the Ld. CIT(A) the assessee relied on the decision of the Supreme Court in the case of Vijaya Bank v. CIT (2010) Vijaya Bank v. CIT (2010) Hon’ble Supreme Court in the case of 322 ITR 166 (SC) to support that once the amount of provision has to support that once the amount of provision has to support that once the amount of provision has been reduced from the debtors been reduced from the debtors in balance sheet, , it amounts to written off of bad debts and therefore it was not written off of bad debts and therefore it was not an…

DCIT, Circle-1, Thane vs. Everest Industries Ltd., Mumbai

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 1424/MUM/2020[2015-16]Status: DisposedITAT Mumbai30 Jun 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…e Act. Before the Ld. CIT(A) the assessee relied on the decision of the Act. Before the Ld. CIT(A) the assessee relied on the decision of the Supreme Court in the case of Vijaya Bank v. CIT (2010) Vijaya Bank v. CIT (2010) Hon’ble Supreme Court in the case of 322 ITR 166 (SC) to support that once the amount of provision has to support that once the amount of provision has to support that once the amount of provision has been reduced from the debtors been reduced from the debtors in balance sheet, , it amounts to written off of bad debts and therefore it was not written off of bad debts and therefore it was not an…

DCIT, Circle- 10(1), New Delhi vs. Global Green Company Ltd., New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 7541/DEL/2019[2011-12]Status: DisposedITAT Delhi20 Jun 2023AY 2011-12

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, Circle- 10(1), New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 6940/DEL/2019[2011-12]Status: DisposedITAT Delhi20 Jun 2023AY 2011-12

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 2233/DEL/2017[2004-05]Status: DisposedITAT Delhi20 Jun 2023AY 2004-05

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 2232/DEL/2017[2003-04]Status: DisposedITAT Delhi20 Jun 2023AY 2003-04

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1932/DEL/2017[2008-09]Status: DisposedITAT Delhi20 Jun 2023AY 2008-09

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1407/DEL/2017[2010-11]Status: DisposedITAT Delhi20 Jun 2023AY 2010-11

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1406/DEL/2017[2007-08]Status: DisposedITAT Delhi20 Jun 2023AY 2007-08

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

Global Green Company Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1405/DEL/2017[2005-06]Status: DisposedITAT Delhi20 Jun 2023AY 2005-06

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

DCIT, New Delhi vs. M/S Global Green Company Ltd., New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1308/DEL/2017[2010-11]Status: DisposedITAT Delhi20 Jun 2023AY 2010-11

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

DCIT, New Delhi vs. M/S Global Green Company Ltd., New Delhi

In the result, the appeals of the assessee are partly allowed for statistical purpose and the appeals of the revenue are dismissed

ITA 1307/DEL/2017[2007-08]Status: DisposedITAT Delhi20 Jun 2023AY 2007-08

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Yogesh Thar, CAFor Respondent: Sh. Mrinal Kumar Das, Sr. DR
Section 37(1)Section 92CSection 92C(2)

…THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI Before Sh. C. N. Prasad, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2232/Del/2017 : Asstt. Year: 2003-04 ITA No. 2233/Del/2017 : Asstt. Year: 2004-05 ITA No. 1405/Del/2017 : Asstt. Year: 2005-06 ITA No. 1406/Del/2017 : Asstt. Year: 2007-08 ITA No. 1932/Del/2017 : Asstt. Year: 2008-09 ITA No. 1407/Del/2017 : Asstt. Year: 2010-11 ITA No. 6940/Del/2019 : Asstt. Year: 2011-12 Global Green Company Ltd., Vs. DCIT, Thapar House, 124, Janpath, Circle-10(1), New Delhi-110001 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACR0635H ITA No. 1307/De…

DCIT Corporate Circle-2, Madurai vs. Thiagarajar Mills (P) Limited, Madurai

In the result, appeal filed by the Revenue is allowed

ITA 563/CHNY/2020[2016-17]Status: DisposedITAT Chennai09 Jun 2023AY 2016-17

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha.G, Hon’Bleआयकर अपील सं./Ita No.563/Chny/2020 िनधा"रण वष" /Assessment Year: 2016-17 V. The Dy. Commissioner – M/S.Thiagarajar Mills- Of Income Tax, Pvt. Ltd., Corporate Circle-2, Gst Road, Madurai. Kappalur, Madurai. [Pan: Aaact 4304 R] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Department By Mr.Ar.V.Sreenivasan, Addl.Cit Assessee By : Mr.S.Sridhar, Adv. सुनवाई क" तारीख/Date Of Hearing : 11.05.2023 घोषणा क" तारीख /Date Of Pronouncement : 09.06.2023

For Appellant: Mr.S.Sridhar, Adv
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 5

…wable for only the bad debts actually written off as irrecoverable from the books of the assessee. 3. The CIT(A) has erred in allowing the appeal of the assessee based on the decision of the Hon'ble Supreme Court in the case of Vijaya Bank reported in (2010) 323 ITR 166. Vijaya Bank is an entity eligible for deduction of provision for bad debts u/s 36(1)(viia). In view of the first proviso to sec. 36(1)(vii), there is a difference in the applicability of sec.36(1)(vii) between the banking companies eligible for deduction u/s.36(1)(viia) and other entities. 4. The CIT(A) failed to take cognizance of the fact tha…

DCIT, Central Circle-20, New Delhi vs. Avantha Realty Ltd (Previous Known As Janpath Investment & Holding Ltd), Delhi

In the result, the appeal of the assessee as well as of the revenue are dismissed

ITA 1333/DEL/2022[2004-05]Status: DisposedITAT Delhi09 Jun 2023AY 2004-05

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumarassessment Year: 2004-05 The Dcit, Central Circle-20, Delhi Avantha Realty Ltd., (Previous Known As Janpath Vs. Investment & Holding Ltd.) 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent) Assessment Year: 2004-05 Avantha Realty Ltd., The Dcit, Central Circle-20, Delhi (Previous Known As Janpath Investment & Holding Ltd.) Vs. 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent)

For Appellant: Shri Upvan Gupta, Adv

…. Senior DR could not show us any factual matrix which may lead us to take a view that the impugned amount was not certain and was merely a provision. Thus the ld. CIT(A) keeping in view the judgment of Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT 231 CTR 209 (SC) held that the impugned amount was certain in nature and therefore upward adjustment as per clause (c) of explanation 1 to section 115JB (2) of the Act cannot be made as per provisions of the Act. Therefore we are unable to see any valid reason to interfere with the findings arrived by the ld. CIT(A) on this issue and hence we uphold the same…

Avantha Realty Limited (Previously Known As Janpath Investment & Holding Ltd.), Gurgaon vs. ACIT Central Circle-20, Delhi

In the result, the appeal of the assessee as well as of the revenue are dismissed

ITA 1196/DEL/2022[2004-2005]Status: DisposedITAT Delhi09 Jun 2023AY 2004-2005

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumarassessment Year: 2004-05 The Dcit, Central Circle-20, Delhi Avantha Realty Ltd., (Previous Known As Janpath Vs. Investment & Holding Ltd.) 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent) Assessment Year: 2004-05 Avantha Realty Ltd., The Dcit, Central Circle-20, Delhi (Previous Known As Janpath Investment & Holding Ltd.) Vs. 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent)

For Appellant: Shri Upvan Gupta, Adv

…. Senior DR could not show us any factual matrix which may lead us to take a view that the impugned amount was not certain and was merely a provision. Thus the ld. CIT(A) keeping in view the judgment of Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT 231 CTR 209 (SC) held that the impugned amount was certain in nature and therefore upward adjustment as per clause (c) of explanation 1 to section 115JB (2) of the Act cannot be made as per provisions of the Act. Therefore we are unable to see any valid reason to interfere with the findings arrived by the ld. CIT(A) on this issue and hence we uphold the same…