Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (2) TMI 372 - AT - Income TaxBad debts written off - Held that:- Relying upon the decision in TRF Ltd. vs. CIT [2010 (2) TMI 211 - SUPREME COURT ] - As per the amendment to Section 36(1)(vii) of the IT Act, 1961 w.e.f. 01.04.1989 - In order to obtain a deduction in relation to bad debts, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable - It is enough if the bad debt is written off as irrecoverable in the accounts of the assessee - The issue has been restored for fresh adjudication.
|