Bharat Heavy Electricals Ltd.,, New Delhi DCIT, New Delhi

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Last updated: 02 January 2021
Quick Summary
This judgement concerns appeals by Bharat Heavy Electricals Limited (BHEL) against decisions by the Deputy Commissioner of Income Tax. The primary issues involve the disallowance of provisions for bad and doubtful debts, and the disallowance of depreciation on loose tools. BHEL argued that the provisions for bad debts should be allowed, citing Supreme Court precedent, and that depreciation on loose tools should be permitted, especially as the tax authorities had treated them as capital expenditure in the past and potentially taxed them twice. The appeals also touch upon a change in accounting policy.

Court :
ITAT New Delhi

Brief :
The learned CIT(A) has erred in law and on facts of the case in upholding the disallowance of the claim of provisions for bad & doubtful debts amounting to Rs.90,12,00,000 as per Schedule 17, treating the same as hot ascertained liability and ignoring the ratio of the judgement of the Hon’ble Supreme court in the case of Vijaya Bank Vs. CIT [2010] 323 ITR 0166.

Citation :
ITA 5607/DEL/2016

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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