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2009 (4) TMI 40 - HC - Income TaxWhile completing the re-assessment, the Assessing Officer disallowed the provisions made for bad debts and Non-Performing Assets and preliminary expenses of under Section 35(D) - Following the Judgments by High Court in the case of T.N.Power Finance, held that Tribunal is right in law in holding that the appellant is not entitled to deduction of the provision made in respect of bad debts and Non Performing Assets which are considered irrecoverable – Following the Judgments by a Division Bench of this Court in the case of Commissioner of Income Tax vs. Sakthi Finance Ltd,, held that, Tribunal was right in holding that the appellant is not entitled to amortisation of preliminary expenses u/s 35D towards share issue expenses
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