Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Write back of sundry creditors - assessee claimed relief of ...

Case Laws     Income Tax

November 25, 2023

Write back of sundry creditors - assessee claimed relief of write back of sundry creditors on account of sanction granted by the BIFR - The assessee made Miscellaneous Application before the CBDT which was ultimately rejected. Therefore, the CIT(A)’s action in allowing the same would be in contravention of the order passed by the higher authority u/s. 119 - AT

View Source

 


 

You may also like:

  1. The assessee, a shipping company under the Tonnage Tax Scheme, had declared certain incomes like sundry credit balances written back, excess provisions written back,...

  2. Additions towards written off of creditors - cessation of liability - there is no liability in the Books of Accounts as per the transfer of the projects to its sister...

  3. Addition u/s 41(1) - benefit by way of remission or cessation of liability - In the instant case, the first mentioned person is the assessee, but not the creditor. In...

  4. Addition u/s 68 / 69C - unverified/non-existent /bogus sundry creditors - Assessee also cannot get scot free by not producing the sundry creditors and making purchases...

  5. The assessee company had shown the liability as outstanding amounts payable to three disputed creditors in its balance sheet as of 31.03.2015. The assessee provided...

  6. Addition u/s 41(1) - Cessation of liability for sundry creditors - assessee failed to prove the credit balance of these two parties - Assessee has duly acknowledged its...

  7. Provision for retirement gratuity written back already stood allowed - unilateral act of the assessee in writing back would not be treated as remission or cessation of...

  8. Addition u/s 41(1) - cessation of liability of Sundry Creditors of timber business which was closed more than 10 years back- non production of written confirmation from...

  9. Addition u/s 41(1) - outstanding balances of sundry creditors and other liabilities - Unconfirmed bill, advance from customers and sundry creditors which are static...

  10. Eligibility for deduction U/s.11 & 12 - The claim of the assessee to carry forward the excess application of fund cannot be entertained applying the commercial...

  11. Power of RP to admit the Claims suo-motu - There is no such provision that the IRP shall admit the Claim without filing a Claim either in Form-B or in Form-C. - the IRP...

  12. MAT Computation of book profit u/s 115JB - Disputed central excise demand raised against the assessee - denial of writing back benefit to the assessee - We appreciate...

  13. Addition u/s 41(1) - proof of seizure of Sundry Creditors - except making the averments to the effect that these Sundry Creditors were paid, no documentary proof thereof...

  14. Revision u/s 263 - reduction from provision created for bad and doubtful debts for rural advances - real income theory - This provision for bad and doubtful debts...

  15. Bogus sundry creditors - Assessee has provided details of the creditors, which should have been examined by both the authorities below but they did not do so for proving...

 

Quick Updates:Latest Updates