{"id":76,"date":"2008-07-30T09:30:00","date_gmt":"2008-07-30T09:30:00","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=76"},"modified":"2008-07-30T09:30:00","modified_gmt":"2008-07-30T09:30:00","slug":"cit-vs-star-chemicals-bombay-high-court","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/cit-vs-star-chemicals-bombay-high-court\/","title":{"rendered":"CIT vs. Star Chemicals (Bombay High Court)"},"content":{"rendered":"<p><a href=\"http:\/\/www.itatonline.org\/dlmonitor\/download.php?t=f&#038;i=33\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.itatonline.org\/images\/download.gif?w=605\" class=\"alignright\" border=\"0\" \/><\/a><br \/>\nIt is clear from the reading of Section 36 (1) (vii) and Circular No. 551 dated 23rd January, 1990 that if the assessee has written off the debt as bad debt, that would satisfy the purpose of the Section.<\/p>\n<p>  Note: The judgement of the Delhi High Court in <a href=\"http:\/\/www.itatonline.org\/pdf\/Morgan_Securities_bad_debt.pdf\" target=\"_blank\"><strong>Morgan Securities &#038; Credits<\/strong><\/a> 292 ITR 339 was followed. <\/p>\n<p><!--\n\n\n\n\n\n\/\/--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is clear from the reading of Section 36 (1) (vii) and Circular No. 551 dated 23rd January, 1990 that if the assessee has written off the debt as bad debt, that would satisfy the purpose of the Section.<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/cit-vs-star-chemicals-bombay-high-court\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,5],"tags":[],"class_list":["post-76","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-high-court"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/76\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}