Tag Archives: Bad debts

No Reassessment if provision for bad & doubtful debts is disclosed in ITR : HC

By | April 19, 2019

Madras High Court CIT Vs. M/s. Indian Potash Ltd.   Tax Case Appeal No.1363 of 2008 Date of Judgement/Order : 11/09/2018 Related Assessment Year : 1998-99 This appeal filed by the Revenue is directed against the order passed by the Income Tax Appellate Tribunal Bench A, Chennai, in I.T.A.No.2025/Mds/2006, dated 14.03.2008 for the Assessment Year 1998-1999.… Read More »

Only actual Bad debts are allowed as deduction and not doubtful debts

By | November 30, 2015

IN THE ITAT LUCKNOW BENCH ‘B’ Kanpur Electricity Supply Co. Ltd. v. Deputy Commissioner of Income-tax-VI, Kanpur SUNIL KUMAR YADAV, JUDICIAL MEMBER AND A.K. GARODIA, ACCOUNTANT MEMBER M.A. NO. 27(LKW) OF 2015 IT APPEAL NO. 311(LKW) OF 2014 [ASSESSMENT YEAR 2004-05] SEPTEMBER  2, 2015 Arvind Shukla, Adv. for the Applicant. Smt. Pinki Mahawar, D.R. for… Read More »