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 January 2022 Year 2022 This

Power of ITAT u/s 254 - Addition on account of bad debt deleted ...

Income Tax

January 13, 2022

Power of ITAT u/s 254 - Addition on account of bad debt deleted - Tribunal has committed no illegality in upholding the finding of fact recorded by the commissioner income tax deleting the addition made on account of bad debt by holding that the assessee has not raised any claim of bad debts either in the profit and loss account or balance sheet. - HC

View Source

 


 

You may also like:

  1. The Tribunal does not have power to review its judgment under Section 254(2) of the Act, which authorises the Tribunal to only correct its mistakes - HC

  2. Claim of bad debts against the undisclosed income found during search not allowed - AT

  3. Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

  4. Disallowance of bad debts written off - bad debts in respect of subscriptions defaulted by the prized subscribers - The Tribunal found the CIT(A)'s decision...

  5. Rectification u/s 254 - Addition u/s 68 - non-consideration of certain facts in Order of the Tribunal - ignoring the material already on record on the part of the...

  6. Rectification of mistake u/s 254 - If such prayer is allowed then in every case, where the assessee is not satisfied with the finding of the Tribunal, the MA will be...

  7. Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

  8. Application for rectification u/s 254 - it does not mean that if the application is moved within the period allowed, i.e., four years, and remains pend ing before the...

  9. Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

  10. Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

 

Quick Updates:Latest Updates