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1 - 10 of 37 (0.44 seconds)Section 43B in The Income Tax Act, 1961 [Entire Act]
Section 54EC in The Income Tax Act, 1961 [Entire Act]
Section 115JB in The Income Tax Act, 1961 [Entire Act]
Section 50 in The Income Tax Act, 1961 [Entire Act]
Section 115BBD in The Income Tax Act, 1961 [Entire Act]
Section 80M in The Income Tax Act, 1961 [Entire Act]
Section 54E in The Income Tax Act, 1961 [Entire Act]
The Commissioner Of Income Tax vs M/S Kirloskar Systems Ltd. on 9 January, 2015
Another important fact is that principle of
Vijaya Bank in the context of u/s.115JB for the provision of doubtful debts had
also been followed by the Karnataka High Court in the case of CIT vs. Kirloskar
Systems Ltd(supra), the Hon'ble Gujarat High Court in the case of Vodafone Essar
Gujarat Ltd. (supra) wherein the Hon'ble High Courts have allowed the provision
16
ITA No. 3489/Mum/2025
Asian Paints Limited
AY 2021-22
for doubtful debts while computing the book profit u/s.115JB. Apart from that in
sister concern, this Tribunal has decided this issue in favour of the assessee.
M/S Vijaya Bank vs C.I.T & Anr on 15 April, 2010
42. Further, decision of Vijaya Bank (supra) is in the context of section 11 5JB
qua provision for doubtful debts also followed by Karnataka High Court in CIT v.
Kirloskar Systems Ltd 220 Taxman I and Hon'ble Gujarat High Court in the case
of CIT v. Vodafone Essar Gujarat Ltd [2017] 397 ITR 55 for doubtful debt while
computing book profit u/s.II5JB).