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2011 (2) TMI 1096 - HC - Income TaxDisallowance of Bad debts - Held that:- In the light of the amendment in clause (vii) of sub-section (1) of section 36, the requirement of establishing that the debt has become a bad debt has been done away with. Thus, clause (iii) of sub-section (2) of section 36 of the Act appears to have been inserted to take care of the situation where on an earlier occasion a claim for deduction in respect of a bad debt has been disallowed on the ground that the assessee had not established that it had become a bad debt. In the facts and circumstances of the present case, clause (iii) of sub-section (2) of section 36 would, therefore, not be attracted - Tribunal has recorded a finding of fact to the effect that the requirements of clause (vii) of sub-section (1) of section 36 as well as the requirement of section 36(2) of the Act have been duly fulfilled in the present case - Decided in favor of the assessee
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