HIGH COURT OF KERALA ON SECTION 143, read with section 36(1)
Last updated: 25 January 2009
Court :
HIGH COURT
Brief :
Section 143, read with section 36(1)(vii), of the Income-tax Act, 1961 - Assessment - Prima facie adjustments - Assessment year 1994-95 - Whether as section 36(1)(vii) does not authorise granting of deduction of any debt unless it is written off in accounts for previous year and it was not assessee’s case that provisions for bad debt claimed by it had been written off in its accounts, its claim was rightly treated as prima facie inadmissible under section 143(1)(a) - Held, yes
Section 36(1)(vii) of the Income-tax Act, 1961 - Bad debts - Assessment year 1994-95 - Whether Explanation introduced to section 36(1)(vii) by Finance Act, 2001 with effect from 1-4-1989 is only clarificatory in nature - Held, yes
Citation :
South Indian Bank Ltd. vs Commissioner of Income-tax, Trichur
You have reached daily limit of 2 Free Judgements. To view this or other Judgements please subscribe to CCI PRO :
Stay updated! Stay ads free
Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.
CCI PRO annual subscription :
Original Price : INR 2999/-
Offer Price : INR 1999/-
Duration : 1 year
(Prices Inclusive of GST)
Know More
Note: If you are a PRO member already, please click here to login (for ad free experience)
CA Pawan Goswami
Published in Income Tax
Views : 1965
Comments
Trending Online Classes
CAclubindia
