Case Law Details
Case Name : Additional Commissioner of Income Tax Vs M/s Pyarelal Coir Products Ltd. (ITAT Delhi)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Delhi
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Thus, as per the decision of Hon’ble Apex Court, for claiming the deduction of bad debts, the assessee need not prove that the debt has actually become bad. Mere writing off in the books of account is enough. In the case under appeal before us, the assessee has explained that the above amounts were outstanding since many years from various depots of MSRTC and they were not paying the amount because perhaps they have deducted these amounts from the assessee’s bills for various reasons, viz., defect in the material supplied, variation in the q
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very good Judgement while AO has any doubt for a partiscular object then he/she should very carefully consider all of its facts & causes as all the provision may not fit at all everywhere, he/she should consider all the consequences of the provision.
Its Good judgment
Doing the business is too difficult in today environment, people sitting in A/c rooms and telling the applicability of provision is easy, they have to understand the practical difficulty in each business.Business people spending lot of time in out of family and sleepless nights and spoiling the health this will not be the matter for people who are sitting in A/C rooms
Good Judgement . Assessing Officer and tribunal should consider the Assesses submissions. Apex court after careful scrutiny Judgement has been delivered.
By sitting on the A/C room none can realize the hardship of a business men. They are always in tension to comply the different regulatory requirement, managing finance, securing business, feed to the Employees , maintenance of office etc.
All regulators should understand the reality in business to business / place to place etc.
CA. Subhash Chandra Podder, FCA
Kolkata
09/09/2012