The Supreme Court of India ruled in favour of Gillette India in the matter arising from a ruling concerning the income tax addition on bad and doubtful debts.
One of the issues before the Rajasthan High Court was regarding whether the addition of Rs.3,02,29,057/- made under Section 36(1) (vii) on account of provisions of bad and doubtful debts could be allowed ignoring the provisions of Section 36(2) of the Income Tax Act.
The Rajasthan High Court ruled in favour of Gillette and hence the present SLP has been preferred by the Income Tax Department. The SLP arose out of impugned final judgment and order dated 23-05-2017 in DBITA No. 349/2011 passed by the High Court of Judicature For Rajasthan At Jaipur.
A Two-Judge Bench comprising Justice Pamidighantam Sri Narasimha and Justice Aravind Kumar observed that “Heard the counsel appearing for the petitioner. We are not inclined to interfere with the impugned judgment and order passed by the High Court. Hence, the Special Leave Petition is dismissed. Pending application(s), if any, shall stand disposed of.”
Subscribe Taxscan Premium to view the JudgmentSupport our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
