This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Onus to prove that debts are irrecoverable gets satisfied, once bad debts w/off in books of accounts
Case Law Details
- Case Name
- M/s Indu Nissan Oxo Chemical Inds. Ltd. Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000-01
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Brief of the Case
ITAT Ahmedabad held In the case of M/s Indu Nissan Oxo Chemical Inds. Ltd. vs. DCIT that the Hon’ble Apex Court in the case of TRF Ltd. vs. CIT reported at (2010) 323 ITR 397(SC) has held that this position in law is well-settled. After 1st April, 1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the assessee. In view of this judgment, reasoning given by lower authorities cannot be sustained. Hence disallowance of Rs.23,14,...
