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Bad Debts Allowed on Write-off, 26AS Mismatch Cannot Trigger Addition: ITAT Dismisses Revenue Appeal
Case Law Details
- Case Name
- ACIT Vs Sheetal Jewellery House LLP (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Mumbai
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ACIT Vs Sheetal Jewellery House LLP (ITAT Mumbai)
Bad Debts Allowed on Write-off 26AS Mismatch Cannot Trigger Addition – ITAT Dismisses Revenue Appeal
Revenue challenged deletion of multiple additions by CIT(A) including bad debts (₹3.61 Cr), 26AS mismatch (₹12.03 lakh) & commission (₹2.98 lakh).
On Bad Debts (Sec 36(1)(vii)):
Assessee wrote off debt relating to earlier years & had filed NCLT claim
ITAT held: post-1989 amendment, mere write-off is sufficient; no need to prove irrecoverability (relying on TRF Ltd)
Deduction rightly allowed
On 26AS mismatch:
Difference due to ...
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