{"id":39693,"date":"2024-03-01T16:45:02","date_gmt":"2024-03-01T11:15:02","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mahindra-and-mahindra-ltd-v-cit-2023456-itr-723-151-taxmann-com-332-bomhc\/"},"modified":"2024-05-05T11:35:25","modified_gmt":"2024-05-05T06:05:25","slug":"mahindra-and-mahindra-ltd-v-cit-2023456-itr-723-151-taxmann-com-332-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mahindra-and-mahindra-ltd-v-cit-2023456-itr-723-151-taxmann-com-332-bomhc\/","title":{"rendered":"Mahindra And Mahindra Ltd. v CIT (2023)456 ITR 723 \/151 taxmann.com 332 \/ 333 CTR 665(Bom)(HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee\u00a0 considering the commercial expediency the\u00a0\u00a0 expenditures incurred by subsidiary till its winding up\u00a0 the\u00a0 amount disallowed as bad debt can be claimed as business loss. The Tribunal was not right in not allowing the claims of the assessee. Followed Badridas Daga v. CIT (1958) 34 ITR 10 (SC), PCIT v. Khyati Realators Pvt Ltd (2022) 447 ITR 167 (SC), distinguished. (AY.1989-90)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business loss-Bad debts-Commercial expediency-Expenditures incurred by subsidiary till its winding up-Amount disallowed as bad debt can be claimed as business loss. [S. 36(1)(vii), 36(2), 37(1)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","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":""},"categories":[21],"tags":[],"class_list":["post-39693","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-akd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=39693"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39693\/revisions"}],"predecessor-version":[{"id":42598,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39693\/revisions\/42598"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}