Supreme Court settles the treatment of provision for doubtful debts under Section 115JA of the Income-tax Act in company taxation: Commissioner of Income Tax-IV, Delhi vs. M/s HCL Comnet Systems & Services Ltd. (2008)

/ B. Sudershan Reddy, Companies Act, 1956, Income-tax Act, 1961, Income-tax Act, 1961 with Section 115JA, Judges, S.H. Kapadia

Introduction Date of the Judgment: September 23, 2008 The Supreme Court of India addressed a key question regarding the Income-tax Act: Can a provision for doubtful debts be added back to a company’s net profit when calculating its tax liability under Section 115JA? This case, Commissioner of Income Tax-IV, Delhi vs. M/s HCL Comnet Systems […]

Supreme Court settles the treatment of provision for doubtful debts under Section 115JA of the Income-tax Act in company taxation: Commissioner of Income Tax-IV, Delhi vs. M/s HCL Comnet Systems & Services Ltd. (2008) Read Post »