nature of sale proceeds of the debt purchased by Lalji
Financials from the assessee. Therefore, it cannot be said that the discounting/factoring
charges paid ... provided to the purchaser and in the event
of failure of the customer to pay, the factor will bear the bad debt risk.
Such arrangements
IRDA (Investment Regulations,
2000). During the relevant previous year the assessee purchased certain debt
securities at a price which was slightly higher than the face ... Schedule. We are
concerned only with the manner in which the debt securities purchased by the
assessee was to be disclosed in the Balance Sheet
IRDA (Investment Regulations,
2000). During the relevant previous year the assessee purchased certain debt
securities at a price which was slightly higher than the face ... Schedule. We are
concerned only with the manner in which the debt securities purchased by the
assessee was to be disclosed in the Balance Sheet
working
capital and estimated net debt and actual net working capital and net debt
transferred to the purchaser. The said difference was mainly arose because ... fact that under
"Adjustment to Purchase Price" the purchaser reassigned some debts
amounting to Rs. 2,44,221,60/- to the assessee
done by him in several ways. In addition to this he purchases the debts of others at a comparatively small cost and reaps huge gains
Hydroair Tectonics (Pcd) Ltd, Navi ... vs Dcit Cen Cir 2(1), Mumbai on 30 January
been raised by the assessing officer regarding
the genuineness of debts claimed as bad debts. Failure to examine
the same has rendered the assessment order ... provisions of section 263
of the Act on bad debts and fish purchases, we observe from the record that
all the informations relating to these
Finance Limited', whereby the 'Synergies Castings Limited'
assigned the debts qua 'ICICI Bank', 'SBI' and 'IDBI Bank ... policy on the grounds that the assignee has purchased the debt for a
considerably discounted price or because that price is only payable after
that if the bad debt is not allowable as bad debt then the
loss suffered on account of assigning such debt has to be allowed ... recovered debts
amounting to `79.5 lakhs only which proves that the debt assigned to
Mahindra & Mahindra Ltd. was in no way good debt
EPDM rubber plant is not under use. New Era has purchased
some secured debts of UR from IFCI Ltd and had plans to acquire more ... 5360/M/2016
A.Y.2010-11
The debts of Unimers India Ltd purchased by New Era are secured by
first charge on the assets
