Case Law Details
Case Name : CIT Vs M/s Himachal Pradesh State Industrial Development Corporation Ltd. (Himachal Pradesh High Court)
Appeal Number : IT Appeal Nos.- 25 of 2009 along with 29, 47 of 2009 and 12 of 2010
Date of Judgement/Order : 24/05/2014
Related Assessment Year :
Courts :
All High Courts Himachal Pradesh HC
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Brief of the case:
- The Hon’ble Himachal Pradesh High Court in the case of CIT vs. M/s Himachal Pradesh State Industrial Development Corporation Ltd. held that the excess provision for bad and doubtful debts written back by way of credit to Profit and Loss A/c is deductible while arriving at the book profits.
- It is an effective credit to P&L A/c and not merely a book adjustment.
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