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2014 (1) TMI 840 - AT - Income TaxDisallowance of Bad debts – Allowability u/s 36(1)(vii) of the Act – Held that:- The appellant wrote off the date after the cheque issued by the said debtor was dishonored by the bank - considering the financial crises faced by the client and also to get the best out of the financial crises faced by the client, the appellant had to settle the sum of .43 lacs and balance is.21,11,238/- had to be written off as balance despite best efforts – Following DCIT Versus Shreyas S. Morakhia[2010 (7) TMI 455 - ITAT MUMBAI ] – Disallowance in respect of bad debts allowed – Decided against Revenue.
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