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2016 (5) TMI 1456 - AT - Income Tax50% depreciation on plastic crates claimed by the assessee - Held that:- In assessee’s own case for the earlier assessment year, we are of the view that plastic crates used by the assessee in its business are coming under the separate block of containers made of glass or plastic used as refills eligible for 50% depreciation. Therefore, we direct the A.O. to allow 50% depreciation as claimed by the assessee. Disallowance of bad debts u/s 36(1)(vii) - Held that:- Since assessee failed to prove the debt and the resultant income has been offered to tax in the earlier period, the assessee cannot claim bad debt. Once the debt has been written off in the books of accounts by passing necessary journal entries, the assessee need not to prove that the debt has become bad in the financial year. The assessee has fulfilled the conditions laid down in the provisions of sec. 36(1)(vii) by written off the debts in the books of accounts. CIT(A) after considering the explanations furnished by the assessee and also taken into account the remand report of the A.O. allowed bad debt claim out of the total bad debts claim - Decided against revenue
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