Search Results for "Writing Off Bad Debts"

Trending :

Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
Supreme Court Upholds Refusal to Eschew Proof Affidavit in Probate Proceedings. ...
Supreme Court Allows Agriculturists' Appeal for Enhanced Compensation; Condones ...

Search Results for "Writing Off Bad Debts"

58 result(s) found

Home Search Results

Scroll Down To Discover

Found 58 result(s)

High Court

Bombay High Court Allows Appeal in Income Tax Bad Debt Deduction Case — Tribunal Erred in Rejecting Claim Under Section 36(1)(vii) of Income Tax Act, 1961. The court held that once the assessee writes off a debt as irrecoverable in its books, the condition for deduction is satisfied, and the Assessing Officer cannot substitute his own opinion.

18 Jul 2022

The appellant, M/s. L.K.P. Merchant Financing Ltd., a Public Limited Company registered as a Non-Banking Finance Company engaged in lease finance, fil...

High Court

Bombay High Court Rules in Favor of Insurance Corporation on Deduction of Bad Debt Reserve. Held That Crediting Reserve for Doubtful Debts Constitutes Write-Off Under Section 36(1)(vii) of Income Tax Act, 1961, and Rule 5(a) of First Schedule Does Not Apply.

26 Jul 2005

In this appeal before the Bombay High Court, the assessee, a general insurance corporation, challenged the Income Tax Appellate Tribunal's decision re...

High Court

High Court of Karnataka Quashes Criminal Proceedings in NI Act Case Due to Company Having Been Dissolved Prior to Issuance of Cheque. Director Not Held Liable Under Section 138 of Negotiable Instruments Act, 1881 as Company Struck Off Under Companies Act, 1956.

1 Jul 2026

Background: The petitioner, a director of Giga Networks Private Limited, approached the High Court under Section 482 of the Code of Criminal Procedure...

High Court

High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

23 Apr 2014

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...

High Court

Bombay High Court Dismisses Winding-Up Petition Against Guarantor Company Due to Bona Fide Dispute and Pendency of DRT Proceedings. Court Finds That Existence of Disputes Regarding Validity of Guarantee and Pending Recovery Proceedings Before DRT Render the Petition Not Maintainable Under Companies Act, 1956.

23 Jun 2016

The petitioner, SICOM Ltd., a financial institution, filed a winding-up petition against the respondent, Entertainment World Developers Pvt. Ltd., und...

High Court

Bombay High Court Allows Deduction for Bad Debts and Provision for Bad Debts Under Sections 36(1)(vii) and 36(1)(viia) of Income-tax Act, 1961 — Independent Deductions Permitted Without Double Deduction. The Court held that the two deductions are independent and the proviso to Section 36(1)(vii) only limits the deduction under that clause to the extent the bad debt exceeds the credit balance in the provision account made under Section 36(1)(viia).

19 Sep 2024

The case involves two appeals by the assessee, The United Western Bank Ltd. (merged with Industrial Development Bank of India), against the order of t...

High Court

Bombay High Court Allows Writ Petition by Banks Against Additional District Magistrate's Order Disposing Section 14 SARFAESI Application Without Taking Possession. The Court Held That the Magistrate's Role Under Section 14 Is Ministerial and Cannot Adjudicate on the Validity of the Underlying Debt or Security Interest.

19 Jul 2022

The petitioners, authorized officers of four financial institutions (IDBI Bank, Axis Bank, Bank of Baroda, and CFM Asset Reconstruction Pvt. Ltd.), ha...

High Court

Bombay High Court Hears Writ Petition Challenging DRAT's Waiver of Pre-Deposit and Setting Aside of DRT Order Under SARFAESI Act; Auction Purchaser Disputes Complete Waiver Under Section 18 and Reversal of DRT's Dismissal of Securitisation Application.

30 Nov 2016

The writ petition was filed by an auction purchaser under Article 226 of the Constitution of India, challenging two orders of the Debt Recovery Appell...

Tribunals

National Company Law Appellate Tribunal Considers Appeal Against Admission of Coffee Day Enterprises to CIRP Under Section 7 of Insolvency Code. Appeal Raises Questions on the Validity of Debenture Trustee's Action and Limitation Period Based on Debenture Trust Deed Provisions.

1 Jan 1970

The appeal arose from an order of the NCLT Bengaluru Bench admitting Coffee Day Enterprises Limited (the corporate debtor) into Corporate Insolvency R...

High Court

Bombay High Court Allows Revenue's Appeal on Deduction Limit Under Section 36(1)(viia) of Income Tax Act. The court held that deduction for provision for bad and doubtful debts is limited to 5% of gross total income, not total income after other deductions.

22 Dec 2011

The Revenue appealed against the order of the Income Tax Appellate Tribunal which allowed a deduction of Rs.3,57,34,509 under Section 36(1)(viia) of t...

1 2 3

Full Name * Username * Mobile Number * Email Address * State/UT * City * Password * Confirm Password * Referral Code (Optional)