{"id":6158,"date":"2019-07-19T10:03:50","date_gmt":"2019-07-19T10:03:50","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dcit-v-asian-paints-ppg-pvt-ltd-mum-trib-ur\/"},"modified":"2019-07-19T10:03:50","modified_gmt":"2019-07-19T10:03:50","slug":"dcit-v-asian-paints-ppg-pvt-ltd-mum-trib-ur","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-v-asian-paints-ppg-pvt-ltd-mum-trib-ur\/","title":{"rendered":"DCIT v.  Asian Paints PPG Pvt. Ltd. (Mum.) (Trib.)(UR)"},"content":{"rendered":"<p>Tribunal held that from the appellant\u2019s balance sheet it can be seen that corresponding amount of the provision for doubtful debts debited by the appellant to P&amp;L account also stands reduced from the Trade Receivables and thus, it held that in such a situation the assessee was entitled to the benefit of deduction under section 36 (1) (vii) of the\u00a0 Act, 1961 as there was actual write off by the assessee in the books<em>. <\/em>It relied on the Supreme Court order with this ratio i.e. Vijaya Bank Ltd v. CIT (2010) 323 ITR 166 (SC) (ITA No. 6548 \/Mum\/ 2017 dt 22-05 -2019)\u00a0 (AY. 2012-13)<\/p>\n<p><a href=\"https:\/\/drive.google.com\/open?id=13GNqKe-9c-yHNa-cTIf-jQeJ0avABUQg\">[Click hereto download PDF file]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(vii) : Bad debt &#8211; Provision for doubtful debts debited  to P&#038;L account also stands reduced from the trade receivables\u2013Held  to be allowable as bad debt.<\/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":[1],"tags":[],"class_list":["post-6158","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1Bk","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6158","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=6158"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6158\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}