Tag Archives: PPG Asian Paints (P.) Ltd.

Ad-hoc expense disallowances remanded for fresh verification while provision for bad debts allowed. Issue Whether ad-hoc 10% disallowance of promotional expenses, disallowance of bad debts provision, unserved Section 143 intimation-based income enhancements, and consequential interest and penalty levies under Section 234A/270A are legally sustainable. Facts Ad-Hoc Expense Disallowance: The Assessing Officer (AO) made an ad-hoc… Read More »

Provision for bad debts is allowable, and income enhancement without serving Section 143 intimation is illegal. Issue Whether a deduction for the provision for bad and doubtful debts under Section 36(1)(vii) is allowable, and whether an enhancement of returned income based on an unserved Section 143 intimation is legally sustainable. Facts Deduction for Bad Debts:… Read More »