Daily Archive: Sunday, July 10, 2016

No TDS late deposit interest if cheque deposited in bank within due date in view of CBDT Circular No. 261 dated 08-08-1979 which has not been withdrawn- ITAT

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No TDS late deposit interest if cheque deposited in bank within due date in view of CBDT Circular No. 261 dated 08-08-1979 which has not been withdrawn- ITAT ABCAUS Case Law Citation: 969 2016 (07) ITAT Assessment Year: 2009-10 Date/Month of Judgment/Order: June, 2016 Brief Facts of the Case:

Bad debts written off in same/first assessment year eligible for deduction u/s 36(1)(vii) after amendment and in terms of CBDT Circular 12/2016

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Debts written off in the same/first assessment year eligible for deduction u/s 36(1)(vii) as after the amendment w.e.f. 1st April 1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable – ITAT  ABCAUS Case Law Citation: 968 (2016) (07) ITAT Assessment
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