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Bad Debt Write-Off Not an ‘Incorrect Claim’ for Section 143(1) Adjustment
Case Law Details
- Case Name
- DCIT Vs M.M. Healthcare Limited (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs M.M. Healthcare Limited (ITAT Delhi)
CPC Can’t Sit in Judgment on Capital vs Revenue at 143(1) Stage: Delhi ITAT Dismisses Revenue Appeal on ₹7.30 Cr Bad Debt Adjustment
Delhi ITAT dismissed the Revenue’s appeal and upheld the order of the Addl./JCIT(A) quashing the CPC’s adjustment made u/s 143(1), holding that CPC exceeded its limited jurisdiction by disallowing a debatable bad-debt claim treating it as capital in nature.
The Assessee had written off ₹7.30 crore advanced to JMD Oil Pvt. Ltd. for a proposed joint-venture manufacturing unit for generic medici...
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