S. 36(1)(vii) : Bad debt-Provision made in respect of doubtful debts-Reduced from balance sheet from sundry debtors / trade receivable.
Vidras India Ceramics (P.) Ltd. v. DCIT (2021) 190 ITD 551 (Ahd.) (Trib.)S. 36(1)(vii) : Bad debt-Provision made in respect of doubtful debts-Reduced from balance sheet from sundry debtors / trade receivable.
Vidras India Ceramics (P.) Ltd. v. DCIT (2021) 190 ITD 551 (Ahd.) (Trib.)S. 36(1)(va) : Any sum received from employees-Failed to make deposit of employee’s contributions to PF/ESI within due date specified under relevant statute-Not allowable as deduction. [S. 2(24)(x)]
Vidras India Ceramics (P.) Ltd. v. DCIT (2021) 190 ITD 551 (Ahd.) (Trib.)S. 36(1)(va) : Any sum received from employees-Employee’s contribution towards PF/ESI-Payment was made after due date prescribed under relevant Act and before due date of filing of return-Allowable as deduction. [S. 2(24)(x)]
Yogi Ji Technoequip (P.) Ltd. v. DCIT CPC (2021) 190 ITD 517 (Delhi) (Trib.)S. 35E : Expenditure on prospecting-Minerals-Business loss-Accumulation of expenses-Matter remanded. [S. 37(1)]
Indo Gold Mines (P.) Ltd. v. DCIT (2021) 190 ITD 862 / 89 ITR 42 (SN) (Bang.)(Trib.)S. 35 : Scientific research expenditure-Research and development in defence aviation system-Allowable deduction u/s 35(1)(iv) of the Act. [S. 35(1)(iv), 37(1)]
Hindustan Aeronautics Ltd. v. ACIT (2021) 190 ITD 721 (Bang.)(Trib.)S. 35 : Scientific research expenditure-Research and development in defence aviation system-Allowable deduction u/s. 35(1)(iv) of the Act. [S. 35(1)(iv), 37(1)]
Hindustan Aeronautics Ltd. v. ACIT (2021) 190 ITD 721 (Bang.)(Trib.)S. 35 : Scientific research expenditure-Quantification prescribed by prescribed authority-Amended clause (b) of rule 6(7A) which was brought in effect from 1-7-2016 is not applicable to assessment year 2011-12-Capital expenditure DSIR 2014 guidelines-Not applicable for the year under consideration-Capital expenditure-International transaction of payment of R&D facilities availed from its AEs-weighted deduction under section 35(2AB), however same was eligible for deductions under section 35(1)(iv). [S. 35(1)(iv), 35(2AB)]
MAHLE Behr India (P.) Ltd. v. DCIT (2021) 190 ITD 852 / 92 ITR 726 / 213 TTJ 481/ 206 DTR 262 (Pune)(Trib.)S. 32 : Depreciation-Additional depreciation-Collection centres-Additional depreciation is held to be allowable on assets used in collection centres.
Metropolis Healthcare Ltd. v. DCIT (2021) 190 ITD 331 (Delhi)(Trib.)S. 32 : Depreciation-Leased assets-Failure to claim due to mistake-Matter remanded.
K. Raheja Corp. (P.) Ltd. v. DCIT (2021) 190 ITD 749 (Mum.)(Trib.)S. 28(i) : Business loss-Forward contract-Hedge against fluctuation in foreign exchange-Marked to market loss arising on valuation of forward contract on closing date of accounting year was to be allowed as business loss-Accounting Standard 11. [S. 43(5)]
VVF (India) Ltd. v. ACIT (2021) 190 ITD 843 (Mum.)(Trib.)