1.    T.R.F. Limited   vs. CIT  - SC   -   Relief giving ruling on bad-debt write off section 36(1)(VII): HELD-Mere write off required to claim bad debt allowance and no requirement to establish badness.

(Click here for judgment)

   

2.     The Apex Court in Mohd. Mohtram Farooqui, Mohalla Pirzadgan vs CIT -  Held According to the Tribunal, the AO has failed to apply his mind to the facts of the case. In the circumstances, according to the Tribunal, since the AO did not examine the relevant persons and since he did not find any explanation furnished by the assessee to be false, the entire penalty proceedings came to be quashed. In our view, on the facts of this case, the Tribunal should have remitted the case to the AO particularly, in  view of the fact that the assessee has raised a legal contention on the applicability of Explanation-5 to Section 271(1)(c) of the Act.

(Click here for judgement)

  

    

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