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ITAT Allows Bad Debt Deduction as Unrecoverable Subsidy Already Been Recognised as Income
Case Law Details
- Case Name
- Indian Potash Limited Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Indian Potash Limited Vs DCIT (ITAT Delhi)
Bad Debt Claim Allowed as Section 36(2) Covers Income Recognised in Same or Earlier Year; Revenue’s Challenge to Higher Depreciation on POS Machines Rejected Due to Binding Precedent; Higher Depreciation on SAP Licence Upheld Because Software Qualified for Applicable Rate; ITAT Rejects Disallowance of Subsidy Write-Off Because Unrecoverable Amount Could Not Remain Taxable Income.
The assessee and the Revenue filed cross appeals against the order of the Commissioner of Income Tax (Appeals), Delhi-23, for Assessment Year 2018-19. ...
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