Home Highlights April 2016 Year 2016 This

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1. Bad Debts - once the deduction made by the clients account is debited and the assessee’s accounts are credited, the conditions laid down by section 36(1)(vii) read with...

2. Deduction on account of bad debts written off - after 01.04.1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It...

3. Bad Debts - Loans advanced to the Group Company utilized for purchase of properties and shares - The High court holds that it's not necessary for the assessee to...

4. Allowance of of bad debts - advances given by the assessee had become actually bad - deduction u/s 36(1)(vii) cannot be denied - HC

5. Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

6. Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

7. Deduction of bad debt written off u/s. 36(i) (vii) - lease rental - the prospects of recovery of lease rentals were quite bleak and the assessee considering that the...

8. Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

9. Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

10. Disallowance u/s 36(1)(vii) - bad debt claim in respect of identified debts - The Tribunal found no flaw in the information provided by the assessee regarding the bad...

11. Disallowance of the claim for Bad Debts written off - Disallowance of settlement expenditure - In the case of bad debts, the Appellate Tribunal (ITAT) partially allowed...

12. Disallowance of bad debt - the assessee has shown such bad debts as debtors in the earlier assessment years which was subject to the scrutiny assessment u/s 143(3) and...

13. Bad debts - Allowability towards service tax which was written off as bad debt u/s. 36(1)(vii) - Since service tax payment recovery is denied by the DIP, the assessee...

14. Deduction towards Provision for bad debts - Addition u/s 36(1)(vii) - The ITAT found that the assessee had made a provision for bad debts but had not actually written...

15. Disallowance of bad debts written off - bad debts in respect of subscriptions defaulted by the prized subscribers - The Tribunal found the CIT(A)'s decision...