Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (8) TMI 484 - RAJASTHAN HIGH COURTBad debt - the assessee was following a practice of creating a provision on account of bad and doubtful debts by first debiting it in its profit and loss account and then adding it back while computing its total income. Thereafter, in a later year some amount was received, that was shown to the credit in the profit and loss account but was not offered for taxation. - It is not necessary for the assessee to show the precise identify of the amount of written back, to be relating to any particular earlier year in view of the fact that when the provision is made in whatever year no deduction of tax had been claimed for that amount. - The appeals thus have no force and the same are, therefore, dismissed summarily.
|